Falling National Competitiveness... Office of the President Cites Negative Impact of Internal Crisis

Assessment by International Institute for Management Development in Switzerland
South Korea's National Competitiveness Drops Seven Places to 27th

Yonhap News

Regarding the decline in South Korea's national competitiveness, the Office of the President assessed that "the negative impact on national competitiveness is closely related to last year's poor performance, as well as the political and economic uncertainty that led to the outbreak of an internal crisis."

On the 17th, the Office of the President provided this explanation in response to the International Institute for Management Development (IMD) in Switzerland ranking South Korea's national competitiveness at 27th this year, a drop of seven places from the previous year. The office indicated that the confusion in state affairs following the declaration of martial law by the Yoon Suk Yeol administration had damaged national competitiveness.

The Office of the President stated, "President Lee has emphasized genuine growth that enhances growth potential since his candidacy," and added, "The Lee Jaemyung administration will concretize and implement the vision of genuine growth to restore national competitiveness."

The office further emphasized, "We will systematically respond at a pan-ministerial level to enhance national competitiveness and external credibility, including revitalizing the operation of the National Competitiveness Policy Council under the Ministry of Economy and Finance."

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