Korea’s National Competitiveness Ranks 23rd, Behind China

A report from a research institute shows Korea’s national competitiveness fell a notch lower compared with last year and was overtaken by China’s.

The Institute for Industrial Policy Studies (IPS) under the Ministry of Commerce, Industry and Energy said in its ‘2007 Report on National Competitiveness’ on May 8 that Korea’s national competitiveness ranked 23rd among 66 countries, receiving 45.77 points.

Korea’s ranking in the annual report declined from 22nd in 2001 to 24th in 2002 and further to 25th in 2003 and 2004, but was up in 2005 and 2006 ranking 22nd. However, Korea’s ranking dropped this year.

On the other hand, China ranked 21st in national competitiveness in the report, scoring 45.96 points and advancing three notches from the previous year.

Previously, China ranked 45th in 2001, 37th in 2002, 32nd in 2003 and 2004, and 24th in 2005 and 2006.

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