South Korea is now the second most innovative country in the world, according to Bloomberg. The data compiled by financial and data provider ranked Korea behind the US - who topped the list by climbing 6 ranks. Korea moved up 1, from 3rd place to 2nd.
The data gathered from 200 countries were graded on eight measures -
- R&D intensity;
- High-tech density;
- Researcher concentration;
- Research and development as a percentage of gross domestic product;
- Manufacturing capability;
- Tertiary efficiency; and
- Patent activity.
The research indicated progress in Korea’s innovation-related sector. However, Korea’s productivity ranked relatively low at 32nd, while it made the top 10 in the seven other measures.
The nation’s patent activity ranked first among the 50 countries in the ranking.
Finland, which topped the ranking last year, fell to fourth place, while Japan and China ranked sixth and 29th, respectively.