South Korea’s national competitiveness ranking this year fell to 26th, down one notch from last year, according to the Global Competitiveness Report released by the World Economic Forum on Wednesday.
Korea’s highest placing was 11th in 2007 and the lowest was 29th in 2004.
Among the competitiveness factors, the country’s ranking in efficiency fell from 23rd to 25th and its innovation ranking fell from 20th to 22nd.
“The mass personal information leaks, North Korea’s missile launches, and the Sewol ferry sinking could have exerted a negative influence on the survey, which was conducted in February-April,” said a Finance Ministry official.
Switzerland kept its top position in global competitiveness this year, followed by Singapore, the United States, Finland, Germany and Japan, according to the report.