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Naver, AmorePacific Included in World’s 100 Most Innovative Companies by Forbes
Korean Innovation
Naver, AmorePacific Included in World’s 100 Most Innovative Companies by Forbes
  • By Jung Min-hee
  • August 24, 2015, 02:45
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Naver Corporation and AmorePacific Corporation have been chosen as two of the World’s 100 Most Innovative Companies 2015.

According to Forbes' annual list of The World's Most Innovative Companies 2015 announced on Aug. 20 (local time), Naver ranked 21st, while AmorePacific ranked 28th.

AmorePacific made the top 100 for the first time this year. Regarding the first entry of South Korea’s beauty behemoth, Forbes said, “After the company released the cushion foundation in 2008, its competitors started launching the copycat products. The success made its Chairman Suh Kyung-bae the second richest man in Korea.”

Naver went up from 53rd place last year to 21st place this year. The company has made the list for two years in a row, jumping 32 spots.

The two companies also made the top 10 list of the 10 Most Innovative Companies in Asia 2015, which was published by Forbes the same day. Naver took 6th place, while AmorePacific took 7th.

Unilever Indonesia topped the list of the 10 Most Innovative Companies in Asia 2015, followed by China’s Baidu and Thailand’s convenience store operator CP ALL.

On the World's Most Innovative Companies 2015, Tesla Motors, the U.S.-based electric car firm, topped the list.

Internet search portal Baidu ranked highest among Chinese companies at 11th place. Among Japanese companies, e-commerce giant Rakuten ranked at 19th place.

Based on the innovative premium solutions developed by Credit Suisse, Forbes decided the ranking by evaluating the innovation ability.