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, The Heritage Foundation provides data for South Korea from 1995 to 2019. The average value for South Korea during that period was 81 points with a minumum of 70 points in 1995 and a maximum of 94 points in 2012. See the global rankings for that indicator or use the country comparator to compare trends over time.
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).