According to the Global Innovation Index (GII) 2023 by the World Intellectual Property Organization (WIPO), South Korea ranked 10th globally in overall innovation performance.
In Bloomberg’s Innovation Index 2021, South Korea ranked #1, outperforming major nations like the United States, Germany, and China. South Korea is also known for having the fastest internet speeds and highest R&D spending relative to GDP, making it a hub for cutting-edge research and tech startups.
The UN E-Government Development Index (EGDI) placed South Korea in the top 5, acknowledging its advanced digital government systems and smart city models. This rapid rise in the tech sector is largely due to the strategic vision of the Korean government, strong public-private partnerships, and an education system that prioritizes science and technology.