A think tank has ranked South Korea just outside the upper quartile in its global peace index for 2023.

According to the 2023 report by the Sydney-based Institute for Economics and Peace that was released on Wednesday, South Korea ranked 43rd out of 163 nations, up two notches from last year, with a score of one-point-763.

With a score closer to one indicating that a country is more peaceful, the index is calculated using 23 qualitative and quantitative indicators to measure peace across three domains: societal safety and security, ongoing conflict and the degree of militarization.

Iceland topped the list for the 15th consecutive year with a score of one-point-124, followed by Denmark, Ireland, New Zealand and Austria.

Afghanistan came dead last, behind Yemen, Syria, South Sudan and the Democratic Republic of the Congo. North Korea ranked 149th, climbing four slots from last year, while Russia came in at 158th and Ukraine 157th.

North Korea logged the fourth-largest total military expenditure after the U.S., China and India, while South Korea ranked tenth. In terms of spending relative to gross domestic product, however, North Korea was second only to Ukraine, a country in the middle of a war.