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2024-08-31

The Ministry of Science and ICT (MSIT) announced that South Korea has ranked first

among global competitors in the 2024 European Innovation Scoreboard (EIS) for the twelfth

consecutive year, published by the European Union (EU). The EIS compares the innovation

performance of 27 EU member countries, 12 neighboring countries, and 11 global

competitors.

S. Korea scored 119 points on the innovation Scoreboard, surpassing Canada (115 points),

the United States (107 points), China (95 points), and Japan (93 points) with the EU average

set at 100. S. Korea excelled in 11 out of 19 evaluation indicators, compared to the EU

average, particularly strength in trademark applications (608.6 points), design applications

(309 points), and corporate R&D investment (250 points). The Ministry stated, “We will

promote improvement in vulnerable indicators by supporting small and medium-sized

business innovation activities, carbon neutrality policies, and the promotion of global R&D

initiatives and projects.

Source: https://www.yna.co.kr/view/AKR20240806053900017