In 2018, index of economic freedom for Republic of Korea was 73.8 score. Before index of economic freedom of Republic of Korea started to increase to reach a level of 73.8 score in 2018, it went through a trough reaching a low of 66.4 score in 2005.The description is composed by Yodatai, our digital data assistant. Have a question? Ask Yodatai ›
Economic freedom is the fundamental right of every human to control his or her own labor and property. In an economically free society, individuals are free to work, produce, consume, and invest in any way they please, with that freedom both protected by the state and unconstrained by the state. In economically free societies, governments allow labor, capital and goods to move freely, and refrain from coercion or constraint of liberty beyond the extent necessary to protect and maintain liberty itself. 100 represents the maximum freedom.