Korea Regains Top Spot in Bloomberg Innovation Index
Regained Top Spot After Yielding to Germany Last Year
[Asia Economy Reporter Moon Chaeseok] South Korea has reclaimed the top spot in the innovation ranking announced annually by Bloomberg News. It had lost first place to Germany last year but has now regained it.
According to the Ministry of Economy and Finance on the 3rd, South Korea scored 90.49 points in Bloomberg's "2021 Bloomberg Innovation Index," announced on the 2nd (local time), ranking first among 60 countries.
South Korea held the number one position for six consecutive years until 2019 but lost it to Germany last year.
Singapore ranked second (87.76 points), Switzerland third (87.60 points), and Germany fourth (86.45 points).
Other major countries ranked as follows: the United States 11th, Japan 12th, and China 16th.
Among the seven detailed evaluation categories, South Korea ranked 2nd in R&D intensity, 2nd in manufacturing value-added, 4th in high-tech density, 3rd in research concentration, and 1st in patent activity.
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A Ministry of Economy and Finance official stated, "We will continue to make comprehensive efforts to accelerate innovation in our economy through the Innovation Growth Strategy Meeting and the Innovation Growth BIG3 Promotion Meeting, and we will do our utmost to enhance national competitiveness."
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