Today, according to the 2007 Index, South Korea's economy is 68.6 percent
free, making it the world's 36th freest economy. Unfortunately, however, a
closer look reveals that South Korea's level of economic freedom is neither as
comprehensive nor as concrete as it should be.
For example, although its regulatory process has improved, bureaucracy and
lack of transparency still hinders entrepreneurial activities. Interventionist
government policies still linger. South Korea's labor freedom is also shackled
by restrictive employment regulations that hamper employment and productivity
growth. Militant labor unions make the situation worse, disrupting the rule of
law and undermining productivity.
Tori Wittman (45)
Jessica Weckhorst (43)
heather r (39)
Tyler Brandon (37)
Brooke Saffren (35)
