September 27, 2022

Forbes released its list of the world’s most innovative companies for 2018, and a total of four Korean companies made the list, including Naver in ninth place and Celltrion in 14th place.

Naver, the largest search engine and Internet portal in Korea, took a step above Facebook, which came in tenth place. Celltrion is a biopharmaceutical company currently developing and marketing the most biosimilar drugs in the world.

Other Korean companies that made the list included Amorepacific, a cosmetics company, at number 18 and LG Household & HealthCare at number 27.

Each year Forbes compiles the list of the world’s most innovative companies based on companies’ innovation premium – the difference between their market capitalization and the present value of cash flows from existing companies – and the company’s ability to innovate now and in the future.