Driver Overview
This section shows a country’s rank, ranking change and score for each of the eight drivers. It also categorises each country’s driver performance on a scale from “Emerging” (score from 0-20) to “Global Leader” (score from 80-100).
Rank
Score /100
Best practice
Metric Overview
Strengths
Transparency in public procurement
Korea's public procurement notices are made available online and tender documents transparently detail both procurement procedures. The transparency of the process encourages more participation and competition, which drive value for money.
Stocks traded
At 152%, Korea’s value of stocks traded as a share of GDP is the second highest of all InfraCompass 2020 countries. This is a relative decline from Korea's peak of 187% in 2009. As this indicator measures the liquidity of equities, it is important to infrastructure investors to know they can exit investments at appropriate points.
Registering property
According to the World Bank, it takes five and a half days to register a property in Korea. This is significantly less time than the High Income Countries’ average of 24.6 days. As infrastructure projects often involve property rights, the shorter time to register properties, the less costly and risky the project.
Top Performing Metrics
Top Performing Metrics
This is defined by the metrics with the highest unweighted score out of 100.
Procurement:
Transparency in public procurement
Financial markets:
Stocks traded
Permits:
Registering property
Opportunities to Grow
Market sounding and/or assessment
The Republic of Korea currently lacks a requirement for market sounding processes for infrastructure projects. Adding one could allow the government to better determine if there is interest from investors and lenders to provide commercial financing for projects.
Environmental impact analysis
According to the World Bank, the Republic of Korea does not have a regulated requirement for environmental impact assessment. Undertaking environmental feasibility studies can help countries understand and balance environmental and infrastructure outcomes.
Value of closed PPP infrastructure deals
The value of closed PPP infrastructure deals as a proportion of GDP is the lowest out of the High Income Countries, at only 0.004%. This is significantly lower than the High Income Countries’ average of 0.11%. A low value may reflect a preference for publicly-funded models.
Metrics to Improve
Metrics to Improve
This is defined by the metrics with the lowest weighted score out of 100, such that these metrics would have the greatest impact on the overall score.
For metrics that have binary outcomes (yes=100/no=0), no comparative income group average is reported.
Planning:
Market sounding and/or assessment
Planning:
Environmental impact analysis
Activity:
Value of closed PPP infrastructure deals
Detailed Data
This section shows country data for each of the 41 metrics. The figures in brackets denote the change in score since InfraCompass 2017.
Note that all data has been normalised on a scale of 1-100. For raw metric data, please download the complete InfraCompass 2020 dataset.
Where relevant, some metric scores have been inverted, such that all metrics have positive relationships with good infrastructure outcomes. For example, since lower compliance costs make it easier to invest in infrastructure, the normalised value of ‘number of procedures to start a business’ has been reversed such that lower number of procedures are scored closer to 100, and higher numbers closer to 0. In other words, a score of 0 indicates a poor performance, rather than 0 number of procedures.
28.2%
The recovery rate is recorded as cents on the dollar recovered by secured creditors through reorganisation, liquidation or debt enforcement (foreclosure or receivership) proceedings.
20.7%
World Governance Composite Indicator reflecting perceptions of the extent to which agents have confidence in and abide by the rules of society, and in particular the quality of contract enforcement, property rights, the police, and the courts, as well as the likelihood of crime and violence. The rule of law reflects whether the law imposes limits of power on the state, private sector and individuals.
18.1%
Whether the country conducts post-completion reviews on infrastructure projects to ensure the forecast outcomes are being achieved.
15.1%
Measures the governance practices that protect shareholders through three dimensions: the extent of shareholder rights index (shareholders’ rights and role in major corporate decisions), the extent of ownership and control index (governance safeguards protecting shareholders from undue board control and entrenchment), and the extent of corporate transparency index (corporate transparency on ownership stakes).
12.8%
Political stability and absence of violence score
Measures perceptions of the likelihood of political instability and/or politically-motivated violence, including terrorism. Estimate gives the country's score on the aggregate indicator, in units of a standard normal distribution i.e. ranging from approximately -2.5 to 2.5.
5%
Whether an infrastructure agency exists to coordinate an integrated approach to infrastructure delivery and policy.
Republic of Korea
High Income Countries Average
Description
The recovery rate is recorded as cents on the dollar recovered by secured creditors through reorganisation, liquidation or debt enforcement (foreclosure or receivership) proceedings.
Weighting (% of Driver)
28.2%
Source Link
Description
World Governance Composite Indicator reflecting perceptions of the extent to which agents have confidence in and abide by the rules of society, and in particular the quality of contract enforcement, property rights, the police, and the courts, as well as the likelihood of crime and violence. The rule of law reflects whether the law imposes limits of power on the state, private sector and individuals.
Weighting (% of Driver)
20.7%
Description
Whether the country conducts post-completion reviews on infrastructure projects to ensure the forecast outcomes are being achieved.
Weighting (% of Driver)
18.1%
Source Link
Description
Measures the governance practices that protect shareholders through three dimensions: the extent of shareholder rights index (shareholders’ rights and role in major corporate decisions), the extent of ownership and control index (governance safeguards protecting shareholders from undue board control and entrenchment), and the extent of corporate transparency index (corporate transparency on ownership stakes).
Weighting (% of Driver)
15.1%
Source Link
Description
Measures perceptions of the likelihood of political instability and/or politically-motivated violence, including terrorism. Estimate gives the country's score on the aggregate indicator, in units of a standard normal distribution i.e. ranging from approximately -2.5 to 2.5.
Weighting (% of Driver)
12.8%
Description
Whether an infrastructure agency exists to coordinate an integrated approach to infrastructure delivery and policy.
Weighting (% of Driver)
5%
Source Link
Country Overview Data
35,004 USD
Infrastructure quality92.1 (0-100 best)
3.1% of GDP
Infrastructure gap0.1% of GDP
1,630 USD billion
GDP growth rate2.0%
GDP per capita growth rate-5.7%
Gini coefficient31.6 (0-100 worst)
Gross Government Debt40.0% of GDP
Inflation rate0.5%
Summary credit rating86.0 (0-100 best)
Unemployment rate3.7%
Urbanisation ratio81.0% of total population
Road connectivity89.5 (0-100 best)
5.9 (1-7 best)
Efficiency of train services5.9 (1-7 best)
Efficiency of air transport services5.9 (1-7 best)
Efficiency of seaport services5.5 (1-7 best)
Electricity access100.0% of population
Electricity supply quality3.3% of output lost
Exposure to unsafe drinking water1.8% of population
Reliability of water supply6.2 (1-7 best)
Digital Adoption Index0.9 (0-1 best)
Mobile-broadband subscriptions113.6 per 100 population
Fixed-broadband Internet subscriptions41.6 per 100 population