South Korea: Index of legal rights for creditors and borrowers (0 = weak to 12 = strong)
For that indicator, The World Bank provides data for South Korea from 2013 to 2019. The average value for South Korea during that period was 5 points with a minimum of 5 points in 2013 and a maximum of 5 points in 2013.
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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.