Procedures to follow when exportingAfter establishing that South Korea is an increasingly liberal economy, there are some problems for foreign direct investment, mainly due to the lack of transparency and burdensome regulations (Heritage Foundation). To go a step further and carry out a comprehensive analysis of the business environment, you need to compare company procedures when doing business. As an industry, the procedure of importing foreign goods will be analyzed and compared with neighboring countries in order to have a complete snapshot of the business environment. First, the country of interest: South Korea. When it comes to importing foreign goods, South Korea has a relatively quick and simple process. Import procedures are estimated to take 7 days (2 days for each: document preparation, port handling and internal handling and approximately 1 day for customs clearance). The estimated cost of the 7-day procedures is $790 (World Bank Doing Business, 2011). This information, at first glance, seems positive. The procedures are quite quick and the cost of $790 is not an absurd amount paid to import goods. The bureaucracy is simple. The necessary documents are: bill of lading, import customs declaration and terminal handling receipts (World Bank Doing Business, 2011). Corruption Perceptions Index Transparency International's latest Corruption Perceptions Index in 2008 includes five data sets. These include: the 2008 Corruption Perception Index (CPI) score, quantity of surveys used, standard deviation, high-low range, and confidence interval. Before data analysis, it is important to understand what each...... middle of paper ......). The Heritage Foundation rated South Korea a very low score of 55 out of 100, which could imply that corruption is widespread and that there is still a long way to go to achieve a positive rating. (Heritage Foundation, 2011)10) Work FreedomWork Freedom has the lowest score of 46.5 out of 100. This shows that there are various problems regarding work, a clear example is the very high cost of dismissal of an employee while the non-wage costs of hiring a worker are moderate (Heritage, 2011). In conclusion, the overall freedom of the country is relatively positive. The Heritage Foundation's ratings are quite high, mostly above the world average. Furthermore, government involvement in business is quite low compared to other countries and at least not so widespread that investors are afraid of engaging in business..