Business Status of South Korea

South Korea’s makes its way to the 34th freest economy in the 2013 Index by having a economic freedom score of 70.3 South Korea's proves that its economy declines in labor freedom and monetary freedom offset by gains in the management of public spending and fiscal freedom by scoring 0.4 point higher than last year. South Korea is ranked 8th out of 41 countries in the Asia–Pacific region.

South Korea has improved its competitiveness by strengthening fiscal fundamentals, earning back it's ''mostly free'' status that it last enjoyed in the 1998 Index. The country’s openness to global trade and investment has been capitalized by a vibrant private sector that is bolstered by a well-educated labor force and high capacity for innovation. South Korea has entered into free trade pacts proactively with leading economies including the United States and the European Union.
Although a sound legal framework is in place to strengthen the rule of law, corruption continues to undermine the foundations of economic freedom, eroding equity and trust in government. South Korea’s long-term economic dynamism will be shaped by the outcome of ongoing debates about the proper scope of government in the welfare politics and the free market.

 Business Status and Job market for Foreigners

 
Recently, it has been very hard for the foreigners to expand their business in South Korea because of the close-knit social ties in Korea's business world. Manufacturing industries which include semiconductors, automobiles and digital electronic has been very successful in South Korea. Hence, many steps were taken by the government to attract more foreign investment and increase the exports. Besides that, free economic zones in South Korea is a self-contained living and business districts that are established to attract foreign investment and expertise which can benefit the foreigners who are working in South Korea exports and imports.  The foreigner can also get air transportation and sea transportation and logistic complexes in the free economic zones.

In addition, the foreigner will have an extra opportunity to work an English teacher because English is a must for business communication as it is the  ''Lingua Franca'' in the business world. Although this career is highly supported by the government, it is still quite difficult to find a teaching job in big cities compared to rural places. Many Koreans always wish to work in teaching fields of employment because the local competition of the technology and IT sector are high. Besides that, language barrier has always been the main problem for foreigner because Korean language is very important in their country to find another jobs other than English teacher.

Source: http://www.internations.org/south-korea-expats/guide/working-in-south-korea-15577/south-korea-s-business-world-2
http://www.heritage.org/index/country/southkorea