S. Korea's competitiveness ranking drops to 27th after impeachment saga

In this year's Global Competitiveness Ranking, South Korea fell to 27th place—down from 20th last year.

The annual report, released on Tuesday by Switzerland's International Institute for Management Development, cited declines in South Korea's domestic economy, infrastructure, and social indicators—linked in part to recent political unrest.

The presidential office responded by stressing that President Lee Jae-myung has consistently advocated for what he calls "genuine growth" to boost the nation's long-term potential.

The administration says it will turn that vision into action—with a focus on restoring South Korea's global competitiveness.