Korean Economy Ranked as a Moderately Free Economy by Heritage Foundation

South Korea has ranked a mediocre 69.9 (moderately free) behind major regional allies and behind nearly 30 countries that are “free” or “mostly free.”  Korea ranks, rightfully, very low in the categories “freedom from corruption” and “labor freedom.” 

Korea has an excellent ranking in business freedom and a mediocre ranking in all other major categories.   There has been no major change in Korea’s ranking for many years.

Regional Ranking
rank                      country                  overall score                 change from previous
1                           Hong Kong           89.9                                0.2
2                           Singapore              87.5                                0.3
3                           Australia                83.1                                0.6
4                           New Zealand         82.1                                -0.2
5                           Taiwan                   71.9                                1.1
6                           Macau                    71.8                                -1.3
7                           Japan                      71.6                                -1.2
8                           South Korea           69.9                                0.1
9                           Malaysia                66.4                                0.1
10                         Thailand                 64.9                                0.2

The complete report can be found at the Heritage Foundation.
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SeanHayes@ipglegal.com