eykim_text_01_0126.jpg Bloomberg has estimated Korea to be the most innovative economy for five consecutive years. The captured image above shows the top 10 most-innovative economies as selected by Bloomberg and announced on Jan. 23.

Korea has secured the top place among the world's most innovative economies for the fifth consecutive year. 

In Bloomberg’s 2018 Innovation Index, announced on Jan. 23, Korea topped the list again, scoring an 89.28 out of 100, followed by Sweden (84.70) and Singapore (83.05). Korea has kept the top place on the list since 2014. 

Since last year, Korea has been in the lead in terms of patent activity. Korea ranked second in value-added manufacturing and commitment to funding R&D, and third in education-efficiency. This year, Korea’s productivity rank rose to 21st, a huge jump from last year’s place of 32nd. 

Bloomberg said that the reason for Korea remaining in its top position as “the global-innovation gold medalist” is that Korean companies are quite active in filing patents. 

It said that companies like Samsung Electronics have received many U.S. patents and that this had contributed to establishing an ecosystem for Korean suppliers and partners. 

“The continuous investment from the government and corporations, as well as the increase in GDP per capita, resulted in improved productivity,” said an official from the Ministry of Strategy and Finance. 

Bloomberg estimates the overall innovation of 78 countries every year across seven categories: R&D intensity, manufacturing value-added, productivity, high-tech density, tertiary efficiency, researcher concentration and patent activity. 


Korea is at the top of the list for five consecutive years among the 78 countries measured by Bloomberg for their overall innovation.