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S. Korea's innovation in regulation, employment falls behind

All News 15:24 June 10, 2018

SEOUL, June 10 (Yonhap) -- South Korea lagged behind in terms of innovation in the regulatory environment and employment, although its innovation in research and technology outperformed many of its peers, according to an analysis of the 2017 U.N. innovation survey Sunday.

South Korea ranked 11th in last year's Global Innovation Index, which is jointly produced by the U.N. World Intellectual Property Organization and two business schools.

Compared with the 2013 survey, South Korea's ranking rose by seven places.

South Korea ranked well in patenting and other intellectual property-related factors, as its businesses contributed significantly to efforts on research and development.

The analysis by the Korea Economic Research Institute (KERI) showed that South Korea ranked second in human capital and research and development.

But the nation ranked 61st in regulatory environment and 42nd in political environment, KERI said.

In terms of the specific regulatory environment, South Korea came in at 107th in employment regulations, 30th in law and order, and 26th in quality of regulations, according to KERI.

Korea Economic Research Institute logo (Yonhap)


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