SEOUL, May 6 (Yonhap) — South Korea been ranked ninth among 44 countries in the global entrepreneurship index 2020, rising six notches from a year earlier, the government said Thursday.
Asia’s fourth-largest economy won 5.49 points out of the full 10 in the Global Entrepreneurship Monitor’s National Entrepreneurship Context Index, up from 5.13 in 2019, according to the Ministry of SMEs and Startups.
South Korea was ranked first in the internal market dynamics category with 7.9 points but came in 29th in the professional and commercial infrastructure access section with 4.8.
South Korea obtained better points than most major global economies, such as the United States, Canada, Britain, European Union countries, China and Japan.
Indonesia topped the list with 6.39 points, followed by the Netherlands with 6.34, Taiwan with 6.06, India with 6.03 and the United Arab Emirates with 6.02.
The U.S. placed 12th with 5.15 points, down from 10th with 5.31 in 2019. The average for the 44 countries surveyed stood at 4.69 points for 2020, compared with 4.63 a year earlier.
The index gauges 12 entrepreneurial environment conditions, including the financial environment related with entrepreneurship and government programs, which make up the context where entrepreneurial activity takes place in a country.
The survey was conducted on 71 experts and 2,000 ordinary people from August-October last year.