South Korea’s global competitiveness ranking fell to No. 27 this year.

According to the annual report released Tuesday by the International Institute for Management Development, South Korea ranked 27th in terms of world competitiveness among the 69 countries surveyed in 2025, down seven notches from 2024.

The Switzerland-based institute releases annual competitiveness rankings based on a country’s economic achievements, infrastructure, and government and corporate efficiency. 

South Korea ranked 44th in corporate efficiency, having plummeted 21 notches since last year. 

Its ranking for infrastructure fell by ten notches to No. 21.

Switzerland took the top spot in the overall ranking, followed by Singapore and Hong Kong. 

The United States finished in 13th place, while China ranked 16th and Japan was 35th.