Invest KOREA

According to the World Intellectual Property Organization (WIPO), Korea ranked 6th in the Global Innovation Index to be evaluated as the best innovator in Asia for the second consecutive year. Korea topped the world in seven categories of patent application per GDP, PCT (international patent application) per GDP, industrial design application per GDP, researchers per population, research talent in businesses, government online service, and e-participation.

As of 2021, Korea applied for 240,000 intellectual property rights, which is the fourth largest in the world, following China, the US, and Japan. In addition, Korea ranked top in resident patent applications filed per GDP of USD 100 billion, which demonstrates the nation’s strong drive for technological innovation.

In 2021, Korea’s R&D investments surpassed KRW 100 trillion for the first time, and its R&D investment-to-GDP ratio stood at 4.96% to maintain the second place in the world after Israel. With 16.7 researchers per 1,000 economically active population and 9.1 researchers per 1,000 population, Korea topped the world in the two categories.

Supporting Korea’s rapid economic growth in the last half-century are characteristics prominent in the county, such as sincerity, responsibility, and flexibility. Korea’s youth higher education completion rate was the highest among OECD member countries at 69% in 2021. People are the most important resource in Korea, and they are what keep innovation alive in the country.