South Korea ranked among the lowest in terms of gender equality as women's economic participation, health and education conditions remained poor, an international organization's report showed Friday.

According to the report by the World Economic Forum (WEF), South Korea came in at 111th place out of 136 countries on the "gender gap index," which is three notches lower than a year earlier.

The report is based on its analysis of women's economic participation, level of education, health and political activity of each country.

In women's economic participation and opportunity to join the economy, South Korea ranked 118th, down two notches from a year earlier.

Its rankings in women's education, health and political activity were 100th, 75th and 86th, respectively, the report showed.

South Korea has seen its ranking continue to slip over the past years. The WEF report put the country at 104th in 2010, 107th in 2011 and 108th in 2012.

Iceland came in first in gender equality, followed by Finland and Norway, the report showed. (Yonhap News)