[Graphic News] S. Korea rises to twenty sixth in World Expertise Rating

South Korea ranked twenty sixth out of 67 nations within the World Expertise Rating 2024 report by the Worldwide Institute for Administration Improvement in Switzerland, scoring 63.56 factors. This marks a notable enchancment, because the nation had beforehand dropped from thirty fourth in 2021 to thirty eighth in 2022, earlier than rebounding to thirty fourth final yr and climbing eight locations this yr.

The rating scores nations’ improvement, retention and attraction of a home and worldwide highly-skilled workforce to guage how nicely they’re reaching long-term worth creation.

Within the main classes, Korea ranked twenty sixth in “funding and improvement” (57.25 factors) in homegrown expertise, thirty fifth in “attraction” (47.86 factors), which measures the extent to which the nation faucets into the abroad expertise pool, and thirtieth in “readiness” (50.64 factors), which signifies the supply of expertise and competencies within the nation’s expertise pool.

The nation excelled in areas similar to “attracting and retaining expertise” (sixth) and “statutory minimal wage” (14th). Nonetheless, it lagged behind within the “cost-of-living index” (57th), “air air pollution” (54th) and “employee motivation” (forty ninth).

Korea additionally carried out nicely in education-related metrics, rating fifth in “instructional evaluation – PISA scores” and eighth for “graduates in science and engineering,” although it ranked low in “competent senior managers” at 51st and “labor pressure development” at forty ninth.

Switzerland topped the worldwide rating, adopted by Singapore, Luxembourg, Sweden and Denmark.