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The Korea Herald
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THE INVESTOR
March 30, 2024

Economy

Korea retains top spot on EU innovation list

  • PUBLISHED :June 19, 2019 - 11:47
  • UPDATED :June 19, 2019 - 11:47
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South Korea retained the top spot in a European innovation list for the seventh consecutive year, the Finance Ministry said on June 19.

Korea scored 137 points in global performance in relation to the European Union in the European Innovation Scoreboard that provides a comparative assessment of the research and innovation performance of the 28 EU member states and 18 select countries, according to the ministry.


“Korea is the most innovative country performing almost 37 percent above the performance score of the EU in 2018,” the European Innovation Scoreboard said.

“Based on its relative-to-the-EU performance in 2018, Korea is the innovation leader, while Canada, Australia, Japan and the United States are strong innovators,” it said.

Canada came in second with 118 points, followed by Australia with 112 and Japan with 111. Innovation performance was compared with the aggregate of the EU as the economic and population size of most global competitors outweigh that of many of the individual EU member states.

The European Innovation Scoreboard said Korea’s performance has increased since 2011, noting South Korea’s relative strengths are in business research, development expenditures and intellectual property applications.

By Ram Garikipati and newswires (ram@heraldcorp.com)

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