South Korea is the fourth most business-friendly country in the world, according to the World Bank's annual 'Doing Business' ranking released Tuesday.
 
Citing the country's high scores in legal settlements and electricity supply, South Korea moved up a notch from last year, coming after New Zealand, Singapore and Denmark.
 
It has been the fourth-straight year that Korea has stayed within the top five countries.
 
This year, the World Bank reviewed 190 countries, through ten categories, to determine how conducive they are to starting and facilitating business.