KIPO: "Korea Ranks 6th Globally in Innovation Index... 1st in Asia"

[Asia Economy (Daejeon) Reporter Jeong Il-woong] South Korea ranked 6th in the Global Innovation Index. It has been ranked 1st in the Asia region for two consecutive years.

According to the Korean Intellectual Property Office on the 29th, the Global Innovation Index has been measured since 2007 by the World Intellectual Property Organization (WIPO) and the European School of Management, targeting WIPO member countries to assess key innovation capabilities such as future economic development and to provide information necessary for the establishment of public policies or management strategies in each country.

This year, Switzerland ranked 1st in the Global Innovation Index for the second consecutive year, followed by the United States, Sweden, the United Kingdom, and the Netherlands within the top 5.

South Korea ranked 6th globally in the Innovation Index and recorded the highest ranking in Asia for two consecutive years. Other Asian countries in the top rankings include Singapore (7th), China (11th), and Japan (13th).

South Korea’s Innovation Index ranking has shown an upward trend from 21st in 2012, 14th in 2015, 10th in 2020, to 5th in 2021.

Previously, WIPO conducted the Innovation Index ranking evaluation based on 81 indicators across 7 fields, including 5 input sectors and 2 output sectors.

In the evaluation, South Korea was confirmed to have ranked 1st globally in 7 indicators, including 3 intellectual property-related indicators such as patent applications among the 81 indicators.

Lee In-sil, Commissioner of the Korean Intellectual Property Office, said, “It is meaningful that South Korea was evaluated as the country with the highest innovation capability among Asian countries for two consecutive years despite the global economic crisis,” and added, “The Korean Intellectual Property Office will strive to strengthen the institutional foundation to effectively utilize and protect intellectual property rights so that domestic innovation capabilities can lead to economic growth.”