Country maintains its No. 5 innovation rank in GE report

Korea maintained its ranking as the fifth-most innovation-driven country for a second consecutive year, a report by the U.S.-based General Electric showed yesterday. The ranking follows the United States, Germany, Japan and China.

According to the GE Global Innovation Barometer, a report based on a survey of executives from major companies around the world. Korea also ranked sixth in terms of having a favorable environment to promote innovative activities.

This year, about 3,200 executives from 26 countries took part in the survey, including 100 from Korea. The executives are from companies in diverse industry sectors that have an average of 650 employees. However, only 42 percent of Korean executives said their home country is favorable for innovative activities, compared to 94 percent in Israel, 89 percent in the United States and 88 percent in Germany.