Henley also singled out several passports that had risen significantly in the rankings over the years - such as China, which jumped from 85th with access to 51 destinations in 2017, to 69th in 2019 with nationals now able to access 74 countries around the world.
An annual index by Swiss-based research firm Henley and Partners shows the country's passport is considered the joint second most powerful in the world - up a notch from 2018, and tying with Singapore.
Citizens of Japan can visit 190 countries around the world visa-free.
Pakistani passport has moved up two spots on the 2019 Henley Passport Index but continues to remain the fifth-worst passport globally, offering its holders visa-free access to just 33 countries.
The UK and the US continue to lose ground in the ranking, now occupying the 6th place (185 countries). The number of countries that a specific passport can access becomes its visa-free "score".
And it added that it is unlikely that either country will reclaim the top spot any time soon.
Tied for fourth are Denmark, Finland, Italy and Sweden.
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The United Arab Emirates (UAE) was one of the biggest climbers on the 2018 Henley Passport Index.
The "continued dominance" of Asian countries in the passport index reflects the "extraordinary effect that global mobility and migration has had on the region", said Henley & Partners, a citizenship advisory firm.
The league table is produced by the Henley Passport Index, using data from the International Air Transport Association (IATA), which looks at how many countries a passport can provide visa-free access to.
The rank is close to an earlier ranking from a similar passport index by Arton Capitol, which placed the Taiwan Passport as the 28th most powerful in the world, alongside the Ukrainian passport. Now, Ukrainians are allowed visa-free travel to 128 countries, whereas a year ago the number was 114.
The US and the United Kingdom continue to drop down the Henley Passport Index - which is based on authoritative data from the International Air Transport Association (Iata) - and now sit in joint sixth place, with access to 185 destinations.
"South Korea and the United Arab Emirates' recent ascent in the rankings are further examples of what happens when countries take a proactive foreign affairs approach, an attitude which significantly benefits their citizens as well as the global community".