South Korea ranked 13th out of one-hundred-41 countries surveyed in the World Economic Forum competitiveness index in 2019, rising two notches from the previous year.
Asia's fourth-largest economy topped the list in macroeconomic stability as well as adoption of ICT, which includes the number of mobile phone subscriptions and fixed-broadband internet subscriptions.
According to the Geneva-based forum, this year's gains were tempered due in part to Seoul's rigid labor market.
In terms of basic requirements that measure institutions and infrastructure, South Korea came in at 26th and sixth place, respectively.
The country was also ranked eighth and 27th in terms of health and skills.