South Korean President Park Geun-hye was named the 11th most powerful woman in the world by Forbes magazine on Tuesday, one notch below U.S. first lady Michelle Obama.

German Chancellor Angela Merkel topped the list of the world's 100 most powerful women, followed by former U.S. Secretary of State and presidential hopeful Hillary Clinton, Bill Gate's wife Melinda Gates and Federal Reserve Board Chairwoman Janet Yellen.

Park was in 11th place after Michelle Obama and was followed by talk show host Oprah Winfrey.

The magazine said Park oversees the world's 14th largest economy in a nation bordering the nuclear-armed North Korea, but the economy has continued on a downward trend just like her approval ratings.

"Despite these shadows, Park recently signed a Canada-Korea Free Trade Agreement, an environmental cooperation treaty with China and Japan, and has called for a Northeast Asia nuclear safety body," the magazine said. (Yonhap)