South Korea’s economic freedom score is 71.5, making its economy the 29th freest in the 2015 Index. Its score is 0.3 point higher than last year, with improvements in property rights, labor freedom, and monetary freedom exceeding declines in the management of government spending and business freedom. South Korea is ranked 7th out of 42 countries in the Asia–Pacific region, and its overall score is above the world and regional averages.