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S KOREAN COMPETITIVENESS SLIPS TO 31ST PLACE: INT'L REPORT.
SEOUL, June 2 Asia Pulse - South Korea's global competitiveness ranking slipped two notches to 31st due to poor labor-management relations and high living expenses, an international report revealed Sunday.
The latest ranking published in the IMD World Competitiveness Yearbook 2008 also showed the country coming up short in cultural openness and the role of government guidelines to bring about technical innovations and development. South Korea came in last among the 55 economies surveyed in these four areas.
The annual report by the Swiss IMD Business School ranks countries based on their economy, infrastructure, and government and corporate efficiency. The paper was distributed by the Korea Institute for Industrial Economics and Trade (KIET).
In living expenses, South Korea's index reached 122.4 compared to 94.5 for the top 10 most competitive countries. Higher numbers represent more cost.
South Korea earned a score of 3.0 in labor-management relations, while ...
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