South Korea Named Asia's Most Innovative Country; Indonesia Lags Behind Thailand and Malaysia

The World Intellectual Property Organization (WIPO) released the 2022 Global Innovation Index. South Korea ranked highest as the most innovative country in Asia.

WIPO ranked the 2022 Global Innovation Index based on criteria such as human capital, institutions, technology and creative output, and market and business sophistication.

The index found that innovation continues to grow in several sectors despite the global economic slowdown and the coronavirus pandemic, particularly in industries related to public health and the environment.

In the combined ranking of Southeast Asia and East Asia, South Korea ranked first with a score of 57.8. Singapore came in second with a score of 57.3. Indonesia ranked 11th with a score of 27.9.

Meanwhile, Switzerland topped the list of the world's most innovative countries with a score of 64.6 out of 100. The United States ranked second, while Sweden was in third place.

One country that saw a significant increase in its ranking was South Korea, which rose from 10th in 2020 to 6th in 2022. China is now the 11th most innovative country in the world, up from 14th in 2020 and 2019, and 17th in 2018.

(read: Top 10 Most Innovative Countries in the World 2022: Where Does Indonesia Rank?)