Biz-friendly Environment | InvestKOREA(ENG)

Seamless and Affordable Electric Supply

According to the World Bank’s Doing Business 2020 report, Korea ranked 5th out of 190 countries in ease of doing business ranking, and the 3rd among OECD countries. In particular, Korea ranked high in the category of Getting Electricity and Enforcing Contracts.
The result highlights that electricity is supplied through a fast and simple process at an affordable price
International Energy Agency (IEA) said Korea’s average cost of utilities per person (tax included: 8.28 pence/ KWh) is 2nd the lowest of 28 OECD members as of 2020.
Energy prices in Korea remains merely half the OECD average and 25% of that in Denmark (tax included: 33.06 pence/ KWh) which tops in the global energy price index.

※ Source : IEA "Domestic electricity prices in the IEA"

Comparison of Electrical Service

Comparison of Electrical Service : Ranking, Country
Ranking	1	2	3	4	5
Country	UAE	Korea	Hong Kong	Malaysia	Germany

※ Source : World Bank Group "Doing Business 2020 ease of doing business score calculator"

Stable Water Supply

Korea has developed infrastructure capable of providing a stable supply of water. Furthermore, Korea’s water utility bills is on average KRW 739 per m2, compared to KRW1,651 of major countries around the world.
Korea’s water supply bill is 44.7% of that of the overall average of major countries around the world. For example, the water supply bill in Japan is 1.7 times, US is 3 times, and Denmark is 5.3 times than that of Korea.

Water supply bills

As of 2020 (Unit : Won/m2)

water utility bills in OECED’s major cities around the world : Country, charge
Country	Korea	Italy	Japan	USA	France	UK	Germany	Denmark
Bill	739	962	1,251	2,250	2,430	2,767	3,284	3,910

1) Exchange rate(June 30, 2020) : 1USD = 1,203 KRW
※ Source: Global Water Intelligence (Global water survey firm)

Active Application for Intellectual Property Rights

The number of applications for intellectual property rights in Korea is the 4th largest in the world, following China, the US, and Japan, and Korea reclaimed the 4th ranking in the world in Patent Cooperation Treaty (PCT) patent applications in 11 years with surpassing 20,000 cases per year for the first time. In addition, Resident patent applications filed per GDP, far outdistanced other leading countries, topping the global list, showing Korea’s excellence in application for intellectual property rights.

Application for Intellectual Property Rights : Ranking, Industrial Property Rights Applications from Major Countries (2017),PCT International Patent Applications from Major Countries(2017), Number of Applications per Million Korean Citizens
Ranking	Industrial Property Rights Applications from Major Countries (2020(tentative), Unit: Case)		PCT International Patent Applications from Major Countries (2020, Unit: Case)		Number of Applications per Million Korean Citizens (2019)
1	Germany	3,666	China	68,720	Korea	3,319
2	USA	2,214	USA	59,230	Japan	1,943
3	Switzerland	1,949	Japan	50,520	Switzerland	1,122
4	Korea	1,669	Korea	20,060	China	890
5	Italy	1,231	Germany	18,643	Germany	884

※ Source: World Intellectual Property Organization (WPO), Korea Intellectual Property Office (KIPO) 2020 Yearly Intellectual Property Statistics, WIPO IP Facts and Figures 2020, World Intellectual Property Indicators 2020

The speed of its patent process is one of Korea’s strengths in this area. The examination and processing period for patent and utility model registry in Korea is shorter than in the US (16.3 months) and similar to Japan (10.4 months).

As of 2018 (Unit : months)

Examination and Processing Period in Major Countries : Status,patent and utility model registry,Trademark model registry,Design model registry
Status	Patent and Utility Model Registry	Trademark Model Registry	Design Model Registry
USA	16.3	13.3	2.7
Japan	10.4	4.9	5.0
Korea	10.3	5.5	4.9

※ Source : World Intellectual Property Organization (WIPO) Yearly Intellectual Property Statistics, Korea Intellectual Property Office (KIPO)