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Innovative Environment

Korea is a global innovation leader in a broad range of fields,
including ICT platforms and process innovation.

Innovation nation

Korea has ranked 1st on the Bloomberg Global Innovation Index 2015 for three years in a row, a ranking of the world’s 50 most innovative countries carried out by Bloomberg. Korea ranked especially high for R&D spending, education and patents. This culture of innovation is another reason so many companies have invested in Korea.

2017 Bloomberg Innovation Index Rankings

 

블룸버그 1위
R&D 집약도 1위
부가가치 제조업 1위
특허활동 1위
교육수준 1위

* Source: Bloomberg Innovation Index (2017)

ICT innovation capability

Korea is a pioneer in the information and communications sector.

In 2015, the nation was ranked first in the International Telecommunication Union’s annual ICT Development Index (IDI), a composite measurement of the level of ICT access, use, and skills of 167 countries. In addition, Korea’s Electronics and Telecommunications Research Institute (ETRI) was ranked first for five consecutive years on the U.S. business patent advisor IPIQ’s Innovation Anchor Scorecard.

Korea’s ICT innovation extends beyond information and communications technology, enabling ICT convergence across a broad spectrum of fields, including bio, finance, logistics, tourism and culture.

Competitiveness of global Korean companies like Samsung Electronics, LG Electronics, and Hyundai Motor is built on their ability to maintain and improve their manufacturing processes in a timely and precise manner.

The manufacturing capability based on Korea’s process innovation will provide opportunities for domestic and foreign companies that wish to capitalize on process innovation capability.

2015 ICT Development Index

Denmark 8.86
Korea 8.85
Sweden 8.67
Iceland 8.64
U.K. 8.50

* Source: International Telecommunication Union (ITU), "Measuring the Information Societ Report 2016)"

ICT Convergence

Automobiles  No.5 globally ,
High-tech companies   No.4 globally ,
Finance   No.7 globally (Seoul) ,
R&D    No.1 globally ,
Cultural contents ,
Education   No.1 globally ,
Logistics    No.1 globally ,
Patents   No.1 globally ,
Shipbuilding   No.1 globally

* Source : KAMA, Bloomberg, Z/Yen group, Nikkei, WIPO, OECD, ACI (2015)

Creative economy innovation centers

The Korean government has suggested a “creative economy” as the new economic development paradigm
and strives to establish a creative economy ecosystem by building platforms. The government kicked
off the project by establishing a “creative economy town” in September 2013, an online platform to
commercialize the ideas of the public. With the first creative economy innovation center built in Daegu
in September 2014, a total of 18 creative economy innovation centers are now in place across the nation as of July 2016. Thanks to the centers, which will play a pivotal role in supporting startups and small- and medium-sized companies (SMEs), Korea is now equipped with on and offline creative economy platforms across the nation. The centers have supported a total of 1,135 startups and attracted a total of KRW 222.3 billion and the incubation centers have helped them create 1,359 new jobs and record about KRW 160.5 billion in sales.

Support of Creative economy innovation centers

* Source : Creative economy innovation center webesite (https://ccei.creativekorea.or.kr)

Creative economy innovation centers in Korea

seoul city (city life) july, 2015

CJ co.

incheon city (logistics) july, 2015

Hanjin delivery

south chungcheong province 
(solar photovoltaic energy) may,2015

Hanwha co.

sejong city (smart farm) june, 2015

SK co.

daejeon city (ict) october, 2014

SK Co.

gwangju city (automobiles) 
january, 2015

Hyundai co.

north jeolla province 
(carbon fibers) november, 2014

hyosung co.

jeju island (it-tourism) 
june, 2015

Daumkakao

gyeonggi province (games·fintech) 
march, 2015

KT co.

gangwon province (big data) 
may, 2015

Naver

north chungcheong province 
(bio·beauty) february, 2015

LG co.

north gyeongsang province
(smart factory) december, 2014

Samsung co.

daegu city (electronics·textile) 
september, 2014

Samsung co.

ulsan city (shipbuilding) 
july, 2015

Hyundai Heavy Industries Co.

busan city (distribution·movies) 
march, 2015

Lotte co.

south gyeongsang province 
(smart machinery) april, 2015

Doosan Enterprise Co.

south jeolla province 
(agricultural and fisheries products)
 june, 2015

GS Retail Co.