Most Innovative Country
According to Bloomberg’s rankings released on January 23, South Korea was the most innovative country this year, with a total score of 92.1. In 2013, the country ranked second, following the US.
The rankings evaluated 215 countries worldwide based on seven factors: R&D intensity, manufacturing capability, productivity, high-tech density, tertiary efficiency, researcher concentration, and patent activity.
Korea occupied the runner-up position in manufacturing capability after China, and also in patent activity following Taiwan. The nation was in the third spot in R&D intensity, high-tech density, and tertiary efficiency, and was placed in 6th in researcher concentration. However, the country ranked 33rd in productivity, remaining in the middle-low ranks, along with Slovenia (32th) and Portugal (34th).
The second most innovative country was Sweden with 90.8 points, while the US, the top-ranked country in 2013, saw its ranking go down to third place this year. Japan’s ranking edged up from 6th in 2013 to fourth in 2014, whereas China climbed four spots in the rankings to 25th place this year. In particular, that most populous country nabbed the top spot in manufacturing capability, beating Korea. China also ranked fourth in patent activity.