A United Nations agency has ranked South Korea number three in the world in terms of its industrial performance and competitiveness last year, putting it behind only Germany and China.
These indices measured and compiled last July by the United Nations Industrial Development Organization. They looked at 153 countries in terms of factors like technology, the amount of value added through industry, and the quality and size of each country’s exports.
Back in 1990, South Korea ranked 17th in the world and the year before last it ranked fifth, but has now overtaken Japan and the U.S. The report said this strength in South Korean industry helped the country develop further in the economic crisis caused by the pandemic.