South Korea has the fifth best business environment in the world,... according to a new report by the World Bank.<br />Sounds great,... but the country is actually down from last year.<br />Lee Seung-jae reports. <br />According to the "Doing Business 2018" report released by the World Bank on Wednesday,... South Korea edged down to fifth place,... one-notch lower than its standing a year earlier.<br />In terms of legal settlements, South Korea placed second this year.<br />It was also runner-up in terms of the electricity supply. <br />In the field of construction permits, South Korea remained in 10th place.<br />South Korea's slip in the latest ranking was due to its standing for dealing with insolvency,... as it slumped to 11th from 5th,... while corporate funding standing dropped five-notches to 60th overall.<br />The World Bank analyzed 190 countries' business environments by breaking them down into 10 broad categories in accordance with the business life cycle from the start of operations to closure.<br />The report also checked legal and administrative rules and practices,... as well as feedback from experts and businessmen in related fields.<br />It's designed to provide the best practice benchmarks for developing countries.<br />Topping the survey was New Zealand,... followed by Singapore and Denmark. <br />Hong Kong finished 4th,... with the United States, Britain and Norway all making the top 10.<br />Lee Seung-jae, Arirang News. <br />
