Korean Companies Lead the Way in R&D Spending
October 29, 2005
The International R&D Scoreboard 2004-05, which was recently published by the UK Department of Trade and Industry and which lists the world's top 1,000 companies in terms of R&D spending, shows a strong performance by Korean companies as they increased their R&D spending by 40% over the past year. Samsung and LG were some of the main drivers behind this growth. Although Taiwan could not keep up with Korea, it still managed 17% growth. The United States saw an increase of 7%, Japan 4%, and Europe only managed 2%.