South Korea: Index of legal rights for creditors and borrowers (0 - 12): For that indicator, The World Bank provides data for South Korea from 2013 to 2016. The average value for South Korea during that period was 5 points with a minumum of 5 points in 2013 and a maximum of 5 points in 2013. See the global rankings for that indicator or use the country comparator to compare trends over time.
The index of legal right for creditors and borrowers in South Korea ranges from 0 (no rights) to 10 (strong rights). Stronger legal rights such as efficient bankruptcy procedures, rules for financial disclosure, clear property rights, etc. facilitate lending.
Definition: Strength of legal rights index measures the degree to which collateral and bankruptcy laws protect the rights of borrowers and lenders and thus facilitate lending. The index ranges from 0 to 12, with higher scores indicating that these laws are better designed to expand access to credit.