ARTICLE
- Bloomberg.com
(2018)
Score another one for Seoul while Silicon Valley slides.
"South Korea remained the global-innovation gold medalist for the fifth consecutive year. Samsung Electronics Co., the nation’s most-valuable company by market capitalization, has received more U.S. patents in the 2000s than any firm except International Business Machines Corp. And its semiconductors, smartphones and digital-media equipment spawned an ecosystem of Korean suppliers and partners similar to what Japan developed around Sony Corp. and Toyota Motor Corp.
China moved up two spots to 19th, buoyed by its high proportion of new science and engineering graduates in the labor force and increasing number of patents by innovators such as Huawei Technologies Co...
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Summary:
The main message of this Article is that South Korea has been the global-innovation gold medalist for the past five years, surpassing countries such as the United States and China. The article further details about the success of companies such as Samsung Electronics Co., International Business Machines Corp., Sony Corp. and Toyota Motor Corp. in the innovation sector, and how that has enabled South Korea's success in innovation. Furthermore, China has increased its share in innovation due to its high proportion of new science and engineering graduates in their laborforce along with patents from innovators like Huawei Technologies Co. This 125 word summary explains how South Korea has remained at the top for global innovation for five consecutive years, thanks to large corporations such as Samsung and IBM, while China has increased its presence in innovative technology due to an abundance of science an engineering graduates who are patenting innovative products. The summary also outlines other well-known companies such as Sony and Toyota which have had a hand in aiding South Korean’s success in innovation through their own ecosystems similar to those created by international companies.
Keywords: Innovation, South Korea, Corporations, China, Patents
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