S. Korea's global competitiveness ranking drops to 29th

한국 국가 경쟁력 순위 29위...4단계 하락 South Korea's competitiveness on the global stage is slipping. Releasing its annual ranking,... one of the world's premier business and management institutions said Korea was on the brink of dropping out.... of the top 30. Kim Mok-yeon has more. The International Institute for Management Development says South Korea's global competitiveness ranking fell to 29th among 61 countries, dropping four notches from last year. The Swiss-based institute that releases competitiveness rankings every year based on a country's economic achievements, infrastructure, and government and corporate efficiency said South Korea's major economic indicators have slowed over the past twelve months. In terms of economic achievements and infrastructure, South Korea ranked 21st, down six notches from a year earlier. Corporate efficiency dropped to 48th,... tumbling eleven notches. On the other hand, in the government efficiency sector, South Korea rose two spots to 26th, marking the first ranking upgrade in three years. South Korea's finance ministry attributes the overall poor rating to a slowdown in the economy and employment, corporate restructuring and corporate ethics problems. Looking at other countries on the list, Hong Kong climbed one notch to the top of the list this year, pushing former number one, the United States, to number three, behind Switzerland. China fell three spots to the 25th,... while Japan edged up one place to 26th. Kim Mok-yeon, Arirang News. Visit ‘Arirang News’ Official Pages Facebook(NEWS): http://www.facebook.com/newsarirang Homepage: http://www.arirang.com Facebook: http://www.facebook.com/arirangtv Twitter: http://twitter.com/arirangworld Instagram: http://instagram.com/arirangworld