Korea's global competitiveness has improved since according the Chosun Ilbo... but the country came last in terms of labor-management relations among 60 countries for the third year running.
The Swiss International Institute for Management Development (IMD) reported that Korea came 29th out of 60 countries in terms of competitiveness, climbing six places since last year.
In the rankings Korea labor competitiveness remained mediocre due to fractious management-labor relations.
On a positive note, Korea placed at or near the top of the list in terms of broadband communication subscriber ratio (first), broadband costs (second), patent productivity (second) and exchange rate stability (second).
Interestingly, the U.S. came first overall, followed by Hong Kong, Singapore and Iceland. Among other Asian countries, Taiwan came 11th, Japan 21st, Thailand 27th, Malaysia 28th, China 31st and India 39th.
The IMD has been evaluating national competitiveness since 1989 by ranking nations in 314 categories.
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