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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.