South Korea topped the list of countries and regions with the highest average Internet connection speed as of the third quarter of 2014, according to the latest ranking released by Statista, one of the world's largest statistics portals.

South Korea leads the list by an overwhelming margin, with an average connection speed of 25.3 Mbps. It is 9 Mbps higher than China's Hong Kong, which is in second place, and almost 10 Mbps higher than Japan, in third place.

Mbps, which stands for megabits per second, is a unit of data transfer.

Statista offers data from market institutions and business organizations. It now has statistics on over 80,000 topics from more than 18,000 sources.

Let's take a look at the top 10 countries and regions with the fastest Internet:

   Singapore

Singapore

Average Internet connection speed: 12.2 Mbps