South Korea: Business freedom

(measure: points; source: The Heritage Foundation)

South Korea: Business freedom index (0-100)

: For that indicator, The Heritage Foundation provides data for South Korea from 1995 to 2017. The average value for South Korea during that period was 80.4 points with a minumum of 70 points in 1995 and a maximum of 93.6 points in 2012. See the global rankings for that indicator or use the country comparator to compare trends over time.
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The Business Freedom index for South Korea from The Heritage Foundation measures the ability to start, operate, and close a business. It reflects the overall burden of regulations and the efficiency of the government of South Korea in the regulatory process.

Definition: The Business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study: Starting a business-procedures (number), time (days), cost (% of income per capita), and minimum capital (% of income per capita); Obtaining a license—procedures (number), time (days), and cost (% of income per capita); Closing a business—time (years), cost (% of estate), and recovery rate (cents on the dollar).