South Korea: Business freedom

(measure: points; Source: The Heritage Foundation)
* indicates monthly or quarterly data series

South Korea: Business freedom index (0-100)

: For that indicator, we provide data for South Korea from 1995 to 2020. The average value for South Korea during that period was 82 points with a minimum of 70 points in 1995 and a maximum of 94 points in 2012. The latest value from 2020 is 91 points. For comparison, the world average in 2020 based on 183 countries is 63 points. 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).
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