[Korea.net News, Science / Tech, December 17 2007] Korea's scientific innovation capability ranks 12th among OECD members: report

Korea’s scientific innovation capability ranks 12th among the members of the Organization for Economic Cooperation and Development (OECD), a government report said Monday (Dec. 17).

The Ministry of Science and Technology said the country received an above-average mark of 10.92 points in the Composite Science and Technology Innovation Index (COSTII). This is higher than the average of 9.82 points for the Paris-based club of 30 industrialized countries.

The index, created by the ministry to keep tabs on where the country stands in scientific competitiveness, uses data similar to that compiled by the OECD, the Switzerland-based International Institute of Management and Development and the World Economic Forum.

The report said the country did well in seven areas including research and development (R&D) investment, innovation drive, entrepreneurship, cooperation between labs and industry and cooperation between businesses. South Korea was also awarded good marks in physical infrastructure for science development and economic growth.