DOING BUSSINESS SOUTH KOREA

In several years, South Korea’s rank in Doing Business for 2014-2016 tends to be increase. The rank
shown in table 1

South
Finland Singapore Malaysia Indonesia
Korea
2013 12 7 1 6 120
2014 10 4 1 17 120
2015 12 4 3 22 106
2
2016 13 5 23 91

South Korea’s rank is always in top 10. The reason why is described in text below:

1. High Educated People

 Korea lacks most of the natural resources required for industrial development but
it became one of the Asian Tiger economies and a manufacturing giant within a
few decades. The "developmental state" in Korea strategically utilized the
comparative advantage of the country in terms of human resources to promote
labor-intensive, mass manufacturing industries for export-oriented economic
development (koreatimes.co.kr).
 The South Korean system also is notable for enforcing a national curriculum and
for spreading resources far more evenly (abcnews.com).
Student in South Korea are really competitive, they’ll do their best to achieve what they
want, go to top universities. They believe that going to top universities will boost their
career. South Korea student also have strong willingness and desire, different with
Indonesia student tend to be lazy. The willingness and competitiveness in South Korea
affected by their surroundings, family. Education system in South Korea is good, the
tuition is free and is notable for enforcing a national curriculum and for spreading
resources far more evenly. Education is highly prized by South Koreans, whose social
and economic status is determined to a large extent by their academic achievement.
This is why parents lay great emphasis on providing high-quality education for their
children.
2. High Innovation
 Innovation and technology are the key factors that have underpinned South
Korean export competitiveness and fueled the country's remarkable economic rise
over the past decades (dw.com).
 "South Korea notched top scores worldwide for manufacturing value-added as
well as for tertiary efficiency - a measure that includes enrollment in higher
education and the concentration of science and engineering
graduates,"(bloomberg.com)
 South Korea is still the world's most innovative economy, according to the 2017
Bloomberg Innovation Index. South korea has a high innovation, especially in
engineering. Also south korea is currently competing with China's low labor costs, and
Japan's high-tech, capital-intensive industries. It makes south korea’s government's
objective to build a creative economy

South Korea’s rank is increase in this past 3 years, cause of:

1. Starting a Business: The Republic of Korea made starting a business faster by eliminating post-
registration procedures.
2. Registering Property: The Republic of Korea made transferring property easier by reducing the
time needed to buy housing bonds and to register the property transfer.
3. Protecting Minority Investors: The Republic of Korea strengthened minority investor protections
by increasing the level of transparency expected from companies on managerial compensation.
4. Getting Credit: Korea revised its secured transactions framework by creating new types of
security rights that can be publicized through registration.