Along with Samsung, LG Electronics: LS Industrial Systems Makes ‘2017 Top 100 Global Innovators’ List | BusinessKorea

Wednesday, February 21, 2018

LS Industrial Systems made the list of the top global 100 innovative companies for seven years running.
LS Industrial Systems made the list of the top global 100 innovative companies for seven years running.
Seoul, Korea
26 January 2018 - 10:30am
Michael Herh

LS Industrial Systems made the list of the top global 100 innovative companies along with Samsung Electronics and LG Electronics for seven years running.

Clarivate Analytics, a world-class academic information service provider, announced 2017 Top 100 Global Innovators, saying, “LG Electronics, LS Industrial Systems and Samsung Electronics took the initiative in global innovation for seven years straight among Korean companies."

The top 100 innovators announced by Clarivate Analytics each year are the results of comprehensive analysis of patent application scales, patent approval rates, global coverage and the impacts of inventions. A total of 45 companies made the list in Asia. This figure is a 15% increase over the previous year, eclipsing that of North America (36). In a word, experts say that Asia has emerged as the center of innovation in the world. Among Asian companies, the three Korean companies, Honda, Toyota and Fuji Electric of Japan and Hon Hai of Taiwan were included in the list.

In North America, the US's Facebook, Molex and Western Digital newly made the list, standing shoulder to shoulder with Apple, Abbott, Boeing and Microsoft. Last year, among the top 100 innovators, companies of Japan (39) and the United States (36) totaled 75 and six companies were selected for the first time. 19 companies including Alstom of France, Bayer in Germany, and Novartis in Switzerland made the top 100 in Europe.

By sector, the number of innovators in the hardware and electronics sector increased by five from 29 last year to 34 thanks to the explosive growth of the smart device and internet of things (IoT) markets. On the other hand, in the automobile industry, the figure decreased from 9 to 7. Over the past five years, the number of patents filed worldwide climbed 11.9% while the number of patents obtained by innovators rose 5.7% over the previous year, towering over an average of 3.4% set by other companies.

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