Global Agenda Council on Korea 2012-2014
Building on its success in achieving remarkable growth over past decades, South Korea is seeking to maintain its economic vibrancy and competitive edge. While the country has gained worldwide recognition for its talent and innovation in manufacturing, it faces potential challenges in the diversification of sectors and in identifying new momentum for growth. The change in leadership draws global attention to South Korea’s position in its engagement with North Korea and its relationship with other countries. The World Economic Forum’s Global Competitiveness Report 2012-2013 ranked South Korea 19th, a significant improvement over previous years; yet it also noted ongoing weaknesses in its institutions, labour-market efficiency and financial-market development.