Anchor: A state-run investment promotion agency released a report listing the pros and cons of South Korea as an investment destination. The report found that South Korea's fast-paced administrative procedures are highly regarded but its relatively low policy transparency and intellectual property protection can turn investors away.
Our Ro Aram has more.

Reporter: A new government report shows that while South Korea’s fast paperwork process may be appealing to foreign investors, the country's relatively low policy transparency and intellectual property protection have been an obstacle to bringing in foreign investment. 

Invest KOREA, the investment promotion arm of the Korea Trade-Investment Promotion Agency(KOTRA), released the report on Thursday based on its analysis of investment environments of South Korea and 32 other major countries in the world, including 15 developing nations.  

The report showed that it took four days on average for incorporation in South Korea, faster than most other surveyed countries, with the exception of Canada and Hong Kong’s one-point-five days and Singapore and Australia’s two-point-five days.

It took an average of 28 days to get a construction permit, the second fastest among the other nations, just after Singapore's 26 days.

South Korea’s policy transparency, however, was disappointing.

The Swiss-based International Institute for Management Development(IMD) measured South Korea’s policy transparency at three-point-25 points out of a total of ten. Italy was the only developed country that fell behind South Korea at three-point-one points.

Even among the developing countries, only four nations scored lower than South Korea, including Brazil which scored one-point-zero-nine points, along with Mexico(1.92), Turkey(2.29) and Russia(2.82).

In terms of protection of intellectual property rights, South Korea secured six-point-33 out of ten points, which was higher than most developing countries.

However, it was the fourth lowest when compared with advanced countries, only ahead of Italy’s six-point-zero-three points, Spain’s six-point-zero-five points and Poland’s six-point-17 points.

Pointing out that policy transparency and intellectual property rights protection are important factors for luring investors, Invest Korea said these areas must be improved in order to appeal to foreign investors that South Korea is a safe place to invest in.

Invest Korea has conducted the comparative study every other year since 2009. 
Ro Aram, KBS World Radio News.