LS Electric Selected as One of the Global Top 100 Innovative Companies for 10 Consecutive Years

[Asia Economy Reporter Su-yeon Woo] LS Electric has proven its competitiveness in the intellectual property (IP) field by being selected as one of the global top 100 innovative companies for 10 consecutive years by Clarivate, a global academic information service provider.

On this day, LS Electric announced that it held a trophy presentation ceremony for being selected as a global top 100 innovative company at the LS Electric R&D Campus located in Anyang, Gyeonggi Province, with the attendance of both companies’ officials including Young-geun Kim, CTO (Executive Director) of LS Electric, and Seong-sik Ahn, CEO of Clarivate Korea.

Clarivate’s annual report, published every year since 2012, analyzes and evaluates patent applications and invention activities of leading companies worldwide that have discovered new ideas, selecting the world’s best innovative companies.

According to this year’s report, a total of 29 companies were selected as the global top 100 innovative companies for 10 consecutive years. Among domestic companies, LS Electric, LG Electronics, and Samsung Electronics achieved the feat of winning for 10 consecutive years. In the energy and electrical sector, to which LS Electric belongs, only four companies including Schneider Electric, Furukawa Electric, and Mitsubishi Electric were listed.

At the trophy presentation ceremony for the Global Top 100 Innovative Companies held at the LS Electric R&D Campus in Anyang, Gyeonggi Province, Kim Young-geun, CTO of LS Electric (left), and Ahn Sung-sik, CEO of Clarivate Korea, are posing for a commemorative photo. Photo by LS Electric

In this selection, LS Electric received high evaluations not only for expanding its domestic and international IP portfolio but also in qualitative aspects such as patent registrations, patent approval success rates, simultaneous patent applications in four overseas regions (the United States, Europe, China, Japan), and citation frequency over the past five years.

Seong-sik Ahn, CEO of Clarivate Korea, explained the background of the award, saying, "LS Electric’s 10 consecutive years of selection demonstrates a global-level innovation culture and is evidence that its influence in R&D and industrial innovation continues to increase."

LS Electric has maintained a management policy that prioritizes research and development (R&D) innovation as its core value, continuously strengthening its domestic and international IP portfolio in its main businesses of power and automation, as well as activities to secure key patents in the strategic business area of smart energy.

In particular, it has made R&D investments in areas recognized as core technologies of the Fourth Industrial Revolution era, such as ▲smart power transmission and transformation ▲information and communication technology (ICT) and DC (direct current)-based energy efficiency solutions ▲smart factory sectors, and has filed 1,962 domestic and 2,552 overseas patents over the past five years.

An LS Electric official said, "As the energy industry paradigm is shifting, we are focusing on R&D to provide various solutions in the smart energy field based on ICT convergence and fusion technologies. Based on this, we will secure global business models and continue to develop technologies that will lead the digital transformation era."

This content was produced with the assistance of AI translation services.