Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
'NCSI guarantees enhancement of national competitiveness'
By Park Jae-hyuk
By Park Jae-hyuk
The National Customer Satisfaction Index (NCSI), which is based on evaluations by end-users of products and services in Korea, has been announced annually by the Korea Productivity Center (KPC) to enhance the overall competitiveness of the nation beyond businesses.
The KPC wants the index to help the country measure the competitiveness of industries, and spur firms to compete for better quality and enhance consumers’ quality of life.
“The NCSI is the most accurate and fair index which has been verified by heavyweight journals worldwide,” the KPC said. “It is an excellent index in terms of reliability, public confidence, representativeness and usefulness.”
In 1998, the KPC began to survey 39 industries, 176 businesses and 40,795 samples, after holding a presentation on measurement methodology. In 2002, the state-backed institution began to hold a certification ceremony for NCSI winners.
It held a big international conference in 2008, celebrating the 10th anniversary of the NCSI. Last year, the KPC surveyed 73 industries, 314 businesses and 84,073 samples.
More than 30 countries, including 20 European countries and the U.S., are using the same methods as the NCSI to measure consumer satisfaction, so the KPC boasts that the NCSI is a global index having high credibility.
“Because most countries adopted the same methods, the NCSI is useful to compare competitiveness between countries,” the KPC said. “Also, domestic firms can have opportunities to enhance their competitiveness, comparing themselves to global enterprises.”