Government Turns Deaf Ear to International Warning

The Korean government expressed open criticism against the Swiss World Economic Forum (WEF) for dragging down Korea in the sovereign rating for competitiveness.

It is very rare for a country to criticize an international evaluation organization for lowering the country’s ranking.

At the Economy Minister’s Meeting held at the government building at Gwacheon Government Complex on October 15, Deputy Prime Minister and Finance and Economy Minister Lee Hun-jae said, “The WEF’s report is dancing around the table,” and expressed strong discontent about the report saying, “I cannot fathom just how an organization with that much public confidence can make a report like this.”

Also at the regular press briefing, he said, “If I belonged to such organization, I would be embarrassed and afraid to put out reports like this,” and added, “Countries around the globe seem to let it slip to be respectful.”

According to the country ranking in terms of national competitiveness published by WEF on October 13, Korea ranked at 29th place this year, 11 places lower than the last year’s ranking.

Ji-Wan Cha Suk-Ho Shin cha@donga.com kyle@donga.com