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South Korea ranks #1 for innovation, U.S. drops out of the top 10 list for the first time in 6 years

By yckim124   Tuesday, January 23, 2018   19,722   1,073   257
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South Korea topped the rankings for the 'Fifty Most Innovative Economies' once again. 


The list is compiled by Bloomberg and uses the combined factors of R&D intensity, Manufacturing added-value, Productivity, High-tech density, Tertiary efficiency, Researcher concentration, and Patent activity.


SEE ALSO: Wiz Khalifa criticized for the racist lyrics against Koreans in his new song 'Hot Now'



The 2018 Bloomberg Innovation Index shows that South Korea has kept its #1 spot from last year. This marks the nation's 5th consecutive year on top. Meanwhile, the United States has been bumped down to #11 - it's the first time in 6 years that the U.S. has ranked out of the top 10. 


South Korea's most-valuable company, Samsung Electronics Co., has once again played a vital role in the nation's economy and place on the innovation index. 


The full list of 'Fifty Most Innovative Economies' can be found below. 







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