South Korea has been ranked 14th on the list of the world's most innovative countries.
The Global Innovation Index, co-published by the World Intellectual Property Organization, Cornell University and INSEAD business school, puts Asia's fourth largest economy in 14th place on the list of the surveyed 141 countries around the world.
The survey that has been conducted annually since 2007 used a total of 79 indicators to gauge both innovative capabilities of governments and measurable results including how well the polled countries foster innovation based on the merits of individual economies.
Switzerland and the United Kingdom took the top and the runner-up posts, with the world's two major superpowers, the United States and China, placing fifth and 29th, respectively.
Singapore remained the only Asian nation in the top 10 of the GII list dominated by northern European countries.
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