'S. Korea 2nd Best Performer in Asia in Sustainable Trade'
Written: 2016-05-05 14:18:05 / Updated: 2016-05-05 14:34:20
South Korea has been ranked second in Asia in its competitiveness in sustainable trade by a nonprofit think tank in Hong Kong.
According to the Sustainable Trade Index released Wednesday by the Hinrich Foundation, South Korea scored 80 points out of 100 to rank second behind Singapore which obtained 81.
The inaugural version of the index measures 19 countries in Asia and the U.S. across economic, social and environmental pillars of sustainability.
Japan(78.5), the U.S.(76.4) and Hong Kong(73.6) trailed the list with over 70 points and China came in 12th with 52-point-five points.
In the report, the Hinrich Foundation said that South Korea is a key competitor in many sectors of merchandise trade. It said South Korea scores relatively poorly in terms of exchange rate volatility.
But it said that factors such as the country's recovery from the financial crisis and targeted development of key sectors, particularly "heavy industry and consumer electronics," mean it has continued to deliver almost unparalleled income gains for its population on a broadly equitable basis.
It predicted South Korea will likely continue to be able to do so.
The foundation, which was launched in 2002, will announce the yearly Sustainable Trade Index starting this year.