South Korea: Cost of starting a business

* indicates monthly or quarterly data series
 South Korea

Cost of starting a business, % of income per capita

 Latest value 14.60
 Year 2019
 Measure percent of per capita GNI
 Data availability 2003 - 2019
 Average 15.45
 Min - Max 14.50 - 18.40
 Source The World Bank
For that indicator, we provide data for South Korea from 2003 to 2019. The average value for South Korea during that period was 15.45 percent of per capita GNI with a minimum of 14.5 percent of per capita GNI in 2014 and a maximum of 18.4 percent of per capita GNI in 2003. The latest value from 2019 is 14.6 percent of per capita GNI. For comparison, the world average in 2019 based on 185 countries is 19.87 percent of per capita GNI. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
South Korea - Cost of starting a business - Recent values chart

Historical chart
South Korea - Cost of starting a business - historical chart - 2003-2019




Definition: The indicator includes all official fees and fees for legal or professional services if such services are required by law. The company law, the commercial code, and specific regulations and fee schedules are used as sources for calculating costs. The indicator excludes bribes.

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 Related indicators Latest value Reference Measure
 Rule of law 1.16 2022 points
 Government effectiveness 1.35 2022 points
 Control of corruption 0.75 2022 points
 Regulatory quality 1.15 2022 points
 Voice and accountability 0.87 2022 points
 Political stability 0.56 2022 points
 Corruption perceptions - Transparency International 63 2022 points
 Political rights 2 2024 points
 Civil liberties 2 2024 points
 Competitiveness 79.60 2019 points
 Cost of starting a business 14.60 2019 percent of per capita GNI
 Shadow economy 19.83 2015 percent
 Informal economy, MIMIC method 26.00 2020 percent
 Informal economy, DGE method 22.50 2020 percent
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