South Korea's competitiveness depends on government.
South Korea's competitiveness is reported to be 17th in the world, up from 29th one year ago. According to a survey by the World Economic Forum (WEF), it is the fastest in the world and the highest for South Korea. It is real good news for South Koreans, although South Korea is suffering in a long tunnel of stagflation. There are still a lot of "Korean problems" to be solved and she remains inferior to other competing countries.
In getting over her difficulties, she has revolutionized corporations and technology. It is encouraging that South Korea is estimated to have a bright future. The WEF rating certifies that South Korea's IT technology is up to world standards. IT promotion policy is recorded as 6th, and IT business preference and R&D investment are as 8th, all of which are recorded in the top rankings.
The quality of the business environment and the competitive power of corporations have been evaluated highly. It was essential that new technology development efforts and activity of corporations are South Korea's competitiveness.
The sector on macroeconomic environment, including interest rates and rate of savings, was dramatically raised by 10 levels. The ranking shows that South Korea's economy is estimated to have been getting better.
The business sector was evaluated highly, whereas the government and public sectors were rated shamefully. Especially, restriction and corruption are said to have encroached upon the country's competitiveness. The government's strict regulation, and inconsistent and inefficient policies cancelled out the advanced business competitiveness. It reflects that the Korean government's anti-market regulation policies have caused anxiety inside and outside of the country. The WEF suggested, "the transparency and efficiency of northern European countries belong in the top 10, which helped business administrations get the truth from other countries". The South Korean government should consider this fact. The government's role in improving the competitiveness of corporations is the way to raise South Korea's competitiveness.
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 / 입력시간: 2005. 09.30. 08:40
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