South Korea's global competitiveness ranking slid one place this year.<br />The International Institute for Management Development, a research group based in Switzerland, said in its annual report that South Korea ranked 28th out of 63 countries surveyed.<br />Out of the four key categories, Korea saw its government efficiency, infrastructure and economic performance fall from the previous year. <br />Korea's economic performance dropped seven spots on-year, ranking 27th.<br />But Korea's business efficiency jumped 9 places to 34th thanks to improved management and entrepreneurship. <br />Singapore was ranked number one, followed by Hong Kong and the U.S. <br />China ranked 14th and Japan placed at 30th. <br />
