SEOUL, Aug. 16 (Korea Bizwire) – South Korea was ranked the 11th most innovative country in the world, a recent report by a United Nations agency showed Tuesday.
The 2016 innovation ranking released by the U.N. World Intellectual Property Organization (WIPO) marks a solid improvement from last year when the agency ranked South Korea as the world’s 14th most innovative nation.
The annual innovation ranking, jointly conducted with Cornell University, is compiled after looking into public and private data and surveys of 128 countries. The first ranking was issued in 2007.
This year’s report put Switzerland as the world’s top innovator, followed by Sweden, Britain, the U.S. and Finland. Switzerland was also ranked the top runner in last year’s report.
China made it on the list of the 25 most innovative countries for the first time ever, while at the bottom were countries such as Yemen, Guinea and Zambia.