![[Graphic News] Korea slips to 27th in global competitiveness](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F07%2F20%2Fnews-p.v1.20250720.14e46af7db534029967135137581e28b_T1.gif&w=3840&q=100)
[Graphic News] Korea slips to 27th in global competitiveness
In 2024, South Korea reached a record high of 20th place but has now slipped back to 27th — the same position it held in 2023. IMD evaluates national competitiveness based on four main categories: economic performance, government efficiency, business efficiency and infrastructure.
The sharpest decline came in business efficiency, where Korea fell to 44th, down 21 spots from the previous year, dragging down its overall ranking. Other subcategories also saw notable drops, including productivity, labor market and finance.
In the 2025 rankings, Switzerland placed first, pushing Singapore to second. The United States ranked 13th while Japan came in 35th.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
20 hours ago
- Korea Herald
US delays crucial ‘2+2' trade meeting with Korea
Seoul weighs $100 billion US investment from top chaebol groups to avert looming tariffs A high-level trade meeting between South Korea and the US was abruptly called off Thursday, just one day before it was set to take place in Washington, due to US Treasury Secretary Scott Bessent's "urgent schedule." The delay has sparked concerns in Seoul as next week's tariff deadline approaches with insufficient time for a potential breakthrough. South Korea's Deputy Prime Minister and Finance Minister Koo Yoon-cheol was set to depart for Washington when the US notified Seoul of the last-minute decision. Koo canceled the trip after receiving the notice while waiting at Incheon International Airport, just an hour before his scheduled flight. The now-delayed '2+2" dialogue was to take place between Koo and Trade Minister Yeo Han-koo from Korea, as well as Bessent and US Trade Representative Jamieson Greer from the US. It would have marked the first such meeting under President Lee Jae Myung's new Cabinet. The high-stakes talks were seen in Seoul as a critical opportunity to make a breakthrough in trade talks before the Aug. 1 deadline, when a 25 percent 'reciprocal tariff' will be imposed on all Korean goods unless a new deal is reached. "Washington has apologized multiple times for postponing the meeting and proposed rescheduling the meeting between Bessent and Koo as soon as possible," Seoul's Finance Ministry said. While the US did not clarify the nature of Bessent's scheduling conflict, reports say he may accompany US President Donald Trump's trip to Scotland on July 25-29. This means it could be virtually impossible to reschedule the '2+2' meeting before the tariff deadline, further dimming hopes of a negotiated resolution in time. Despite the disruption, Yeo and Industry Minister Kim Jung-kwan, who are already in Washington, will continue consultations with their US counterparts, including Greer, Secretary of Commerce Howard Lutnick and Secretary of Interior Doug Burgum, according to the Industry Ministry. South Korea has been pushing for reduced tariff rates or exemptions through a comprehensive deal covering both tariffs and broader economic cooperation. Korean exports currently face a 10 percent base tariff with additional levies imposed on key products, such as 25 percent tariffs on automobiles and auto parts, and 50 percent on steel and aluminum. Without a meaningful advancement in negotiations, this baseline tariff is scheduled to increase to 25 percent on Aug. 1, intensifying economic strain on the export-dependent country. Further adding to the pressure, Japan struck a deal with the US on Wednesday. The latter agreed to lower its tariff rate against Japan from 25 percent to 15 percent in exchange for a whopping $550 billion investment in the US and a difficult concession to open its market for more American automobiles and rice. Observers say Japan's deal could serve as a benchmark for South Korea in its own negotiations, as the two countries share similar trade dynamics with the US: both run comparable trade deficits and rely heavily on the US market for key exports, such as automobiles, semiconductors and electronics. Like Japan, South Korea is considering an investment package exceeding $100 billion with participation from the country's major conglomerates, including Samsung, SK, Hyundai Motor and LG, according to industry sources. The figure is expected to grow as additional corporate and government contributions are finalized. Seoul had planned to propose a $100 billion package during the now-postponed talks. President Lee was scheduled to meet with Samsung Electronics Chair Lee Jae-yong on Thursday afternoon, according to local media reports, with discussions expected to focus on the US investment and tariffs. Lee has held similar one-on-one meetings since last week, seeing Hyundai Motor Chair Chung Euisun on July 14, LG Group Chair Koo Kwang-mo on July 15, Hanwha Group Vice Chair Kim Dong-kwan on Tuesday and SK Group Chair Chey Tae-won on Wednesday. Meanwhile, National Security Adviser Wi Sung-lac sought to dispel speculation that he was unable to have a face-to-face meeting with US Secretary of State Marco Rubio during his visit to Washington. Wi explained that Rubio was urgently summoned by Trump, and was unable to meet as the meeting ran longer than expected. Wi said that "sufficient coordination had taken place via phone call" with Rubio, and that they had agreed to have an additional consultation, with the specific time and method to be arranged through working-level coordination. "The report that the US side refused the meeting, resulting in the cancellation of the talks, is inaccurate. Such misinformation not only undermines the reputations of the individuals involved, including Wi and Rubio, but could also negatively impact the trust between Korea and the US in the middle of sensitive communication," Wi said in a written statement.
Korea Herald
a day ago
- Korea Herald
New AI Automation Platform Learns Like a Human--Infofla's Selto V2 Now Available
SEOUL, South Korea, July 25, 2025 /PRNewswire/ -- Infofla, a fast-growing AI startup specializing in workflow automation, has launched Version 2 of its flagship product 'Selto', delivering major upgrades that dramatically improve precision, flexibility, and user control. Powered by Infofla's proprietary 'VLAgent' engine—an AI system that combines large language models with advanced image recognition—Selto V2 enables businesses to automate complex digital tasks with human-like adaptability. Unlike traditional RPA (robotic process automation) tools, which often break down when unexpected screen changes occur, Selto can visually recognize and respond to real-time UI changes like pop-ups or layout modifications. "This update focuses on making automation more intuitive and flexible," said In-mook Choi, CEO of Infofla. "With Selto V2, anyone can easily design and manage automated workflows—even across unpredictable digital environments." Selto V2 introduces a new level of intelligence and flexibility for business automation. The upgraded version can now visually confirm what it has learned from screen, making it easier for users to identify and resolve issues quickly. This improvement helps boost reliability and transparency, especially in fast-changing digital environments. The platform also adapts dynamically to conditional scenarios. For instance, Selto can now tailor workflows based on different user types or interface conditions—an essential feature for customer-facing services where one-size-fits-all automation often fails. Infofla has also enhanced Selto's ability to process and reuse external data, enabling seamless input of variable information like customer names or addresses. This makes automations more scalable and personalized without increasing human workload. To support growing enterprise demand, Infofla now provides a robust administrator dashboard and has upgraded Selto's testing environment with enterprise-grade GPUs. This ensures reliable performance during large-scale Proof of Concept trials—especially in industries with high automation complexity, such as finance and insurance. Selto has already been deployed by Korea's Ministry of the Interior and Safety and top-tier e-commerce platforms. Building on that success, Infofla is currently running PoCs with major players in the financial and insurance sectors. With Selto V2, Infofla is moving beyond the limitations of existing RPA, paving the way for broader adoption of practical, accessible AI agents and positioning itself as a next-generation leader in intelligent automation. About Infofla Infofla is a Seoul-based AI software company revolutionizing workflow automation with its Vision Language Model (VLM) technology. Its proprietary solutions—including ITOMS, VLAgent, and RPACA—combine visual recognition with natural language understanding to deliver human-like adaptability in dynamic digital environments. Infofla is also developing FLAR, a robotics control system for intelligent physical automation. Its technologies are already used by Korean government and enterprise clients, and the company is expanding globally with support from partners like AWS.
Korea Herald
a day ago
- Korea Herald
Miracell launches Korea's first generative AI voice system for hospitals
Korean stem cell research company Miracell has introduced the nation's first generative AI-powered voice consultation system designed for medical institutions. Co-developed with Europe-based Vee, a Warsaw-listed AI company, the solution marks a major shift in healthcare automation. The company said Monday it has secured exclusive distribution rights for Vee's AI solution across Asia and is working closely with Vee Korea to customize the system for local hospitals. Unlike traditional rule-based ARS systems, the new AI tool uses natural language processing to deliver 24-hour conversational support, handling appointment scheduling, billing inquiries, patient reminders and general questions. The system is particularly effective during nights and weekends, when staffing is limited. It integrates with hospital customer relationship management systems and supports both inbound and outbound calls. Hospitals can trial the solution free for one month, lowering the adoption barrier. 'Generative AI can dramatically improve service quality in medical care,' said Shin Hyun-soon, CEO of Miracell. 'This isn't just an upgrade — it's a survival strategy for the health care sector.' Vee provides the underlying large language model engine, customized for Korean language and clinical context. A future version will link with Miracell's Celldoc platform, integrating patient consultations, appointments, and treatment records into a single interface. By combining its stem cell expertise with cutting-edge AI, Miracell aims to set a new standard in the health care industry. 'We're starting with clinics already using Smart-MCell,' a Miracell spokesperson said. 'But this is just the beginning. With AI, we hope to bring patients and caregivers even closer, and open the door to a more responsive, intelligent health care experience.'
