South Korea

South Korea - January 2021

South Korea is the tenth largest economy in the world and the fourth largest in Asia. Even though per capita incomes in South Korea lag most advanced economies, the business climate outperforms and growth is on par with advanced economies. Creditworthiness is high, as is the case in many advanced economies.

This chart is a cobweb diagram showing how a country measures up on four important dimensions of economic performance—per capita income, annual GDP growth, business climate and creditworthiness. Per capita income is in current US dollars and is the five-year average between 2021 and 2025 as provided by the IMF. Annual GDP growth is the five-year average between 2021 and 2025. Business climate is measured by the World Bank’s latest Ease of Doing Business ranking of 190 countries. Creditworthiness attempts to measure a country's ability to honour its external debt obligations and is measured by its OECD country credit risk rating. The chart shows not only how a country performs on the four dimensions, but how it measures up against other regional countries.