2016年-世界发展银行全球_Doing_Business_Economy_Profile_2017___Republic_of_Korea_113页_1mb

Doing Business 2017: Summary for Korea, Rep.

Core Content

The Doing Business 2017 report is a World Bank Group flagship publication that evaluates the ease of doing business across 190 economies, including Korea, Rep. It focuses on 11 key areas in the business life cycle, measuring regulatory obstacles and improvements. The report provides both an ease of doing business ranking and a distance to frontier (DTF) score, which indicates how close an economy is to the best regulatory practices.

Korea, Rep. is ranked 5th in the ease of doing business ranking for 2017, a slight drop from its 4th position in 2016. Its DTF score increased from 83.86 to 84.07, indicating a small improvement in regulatory performance.

Key Indicators and Comparisons

Starting a Business

• Rank (2017): 11, (2016): 17
• DTF Score (2017): 95.83, (2016): 94.36
• Procedures (Men): 2, (Women): 2
• Time (Men): 4 days, (Women): 4 days
• Cost (Men): 14.6% of income per capita, (Women): 14.6%
• Best performer: New Zealand (Rank 1, DTF 99.96)

Dealing with Construction Permits

• Rank (2017): 31, (2016): 28
• DTF Score (2017): 77.84, (2016): 77.83
• Procedures: 10
• Time: 28 days
• Cost: 4.3% of warehouse value
• Best performer: New Zealand (Rank 1, DTF 87.40)

Getting Electricity

• Rank (2017): 1, (2016): 1
• DTF Score (2017): 99.88, (2016): 99.88
• Procedures: 3
• Time: 18 days
• Cost: 38.3% of income per capita
• Best performer: Korea, Rep. (Rank 1, DTF 99.88)

Registering Property

• Rank (2017): 39, (2016): 41
• DTF Score (2017): 76.34, (2016): 76.22
• Procedures: 7
• Time: 5.5 days
• Cost: 5.1% of property value
• Best performer: New Zealand (Rank 1, DTF 94.46)

Getting Credit

• Rank (2017): 44, (2016): 42
• DTF Score (2017): 65.00, (2016): 65.00
• Strength of legal rights index: 5
• Depth of credit information index: 8
• Credit bureau coverage: 100%
• Best performer: New Zealand (Rank 1, DTF 100.00)

Protecting Minority Investors

• Rank (2017): 13, (2016): 10
• DTF Score (2017): 73.33, (2016): 73.33
• Strength of minority investor protection: 7.3
• Conflict of interest regulation: 7.0
• Shareholder governance: 7.7
• Best performer: New Zealand (Rank 1, DTF 83.33)

Paying Taxes

• Rank (2017): 23, (2016): 25
• DTF Score (2017): 86.56, (2016): 86.54
• Payments per year: 12
• Time (hours per year): 188
• Total tax rate: 33.1% of profit
• Best performer: United Arab Emirates (Rank 1, DTF 99.44)

Trading Across Borders

• Rank (2017): 32, (2016): 32
• DTF Score (2017): 92.52, (2016): 92.52
• Time to export: Border compliance: 13 hours, Documentary compliance: 1 hour
• Cost to export: Border compliance: $185, Documentary compliance: $11
• Time to import: Border compliance: 6 hours, Documentary compliance: 1 hour
• Cost to import: Border compliance: $315, Documentary compliance: $27
• Best performer: 10 Economies (Rank 1, DTF 100.00)

Enforcing Contracts

• Rank (2017): 1, (2016): 1
• DTF Score (2017): 84.15, (2016): 84.15
• Time: 290 days
• Cost: 12.7% of claim
• Quality of judicial processes: 14.5
• Best performer: Korea, Rep. (Rank 1, DTF 84.15)

Resolving Insolvency

• Rank (2017): 4, (2016): 6
• DTF Score (2017): 89.22, (2016): 88.75
• Recovery rate: 84.5 cents on the dollar
• Time: 1.5 years
• Cost: 3.5% of estate
• Best performer: Finland (Rank 1, DTF 93.89)

Methodology and Key Changes in 2017

• New indicators: The 2017 report includes postfiling processes in the paying taxes indicator, such as tax refunds, audits, and appeals.
• Gender dimension: Added to four indicators (starting a business, registering property, enforcing contracts, and labor market regulation), with the gender component included in the DTF score for three of them.
• Expanded coverage: The report now includes Somalia, making the total number of economies covered 190.
• Data source: The data are current as of June 1, 2016, except for paying taxes, which covers January–December 2015.

Analysis of Regulatory Environment

The report highlights that Korea, Rep. is among the top performers in most business-related indicators, particularly in getting electricity, where it ranks 1st and is the best performer. The DTF score for this indicator is 99.88, which is the highest among all indicators.

In starting a business, Korea, Rep. has 2 procedures for both men and women, with a time of 4 days and a cost of 14.6% of income per capita. It is among the top performers but still lags behind New Zealand.

For dealing with construction permits, Korea, Rep. has 10 procedures, taking 28 days and costing 4.3% of warehouse value. It is still among the top performers in this area.

In registering property, Korea, Rep. has 7 procedures, with a time of 5.5 days and cost of 5.1% of property value, placing it in the top tier.

Korea, Rep. also shows a strong performance in getting credit, with 100% credit bureau coverage, 8 out of 8 depth of credit information, and a DTF score of 65.00.

In protecting minority investors, Korea, Rep. has 7.3 in the strength of protection index and 7.0 in the conflict of interest index, but the ranking has slightly dropped from 10th to 13th in 2017.

For paying taxes, Korea, Rep. has 12 payments per year, 188 hours per year, and a total tax rate of 33.1% of profit, ranking 23rd.

In trading across borders, Korea, Rep. has a DTF score of 92.52, ranking 32nd, with a time to export of 13 hours and cost of $185.

For enforcing contracts, Korea, Rep. has a DTF score of 84.15, ranking 1st, and the quality of judicial processes index is 14.5.

In resolving insolvency, Korea, Rep. has a DTF score of 89.22, ranking 4th, with a recovery rate of 84.5 cents on the dollar and time of 1.5 years.

Conclusion

The Doing Business 2017 report highlights Korea, Rep.'s strong regulatory environment, particularly in areas like getting electricity and enforcing contracts, where it leads globally. The report also underscores the importance of the distance to frontier metric in understanding how close an economy is to best practices. While Korea, Rep. has made small improvements in some areas, it still has room for enhancement in others, such as protecting minority investors and resolving insolvency. The inclusion of gender components in several indicators reflects a growing emphasis on equal opportunity and gender-specific regulatory challenges.