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Foreign companies filing patents in South Korea (Updated 2024)

South Korea has cemented its reputation as an innovation powerhouse, holding strong as the 10th most innovative country in the world, according to the Global Innovation Index 2023.

With a dominant position in innovation outputs, South Korea has become a prime destination for global companies looking to safeguard their advanced technologies. Foreign companies filing patents in South Korea are making substantial contributions, fueling innovation across a spectrum of industries, from cutting-edge semiconductors to eco-friendly technologies.

This article explores the top non-Korean innovators who are not just contributing to this wave—they’re at the forefront, defining the future of South Korea’s innovation landscape.

Curious about which domestic companies led in patent filings in South Korea in 2024? 

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Insights & Analysis:-

  • Top Innovators by Patent Count

Top companies by patent count include Tokyo Electron (346 patents), Apple (307 patents), and Canon (258 patents). These leaders focus on semiconductors, technology, and imaging, reflecting innovation in electronics and related sectors.

  • Sectoral Innovation

Key sectors with high patent activity are Semiconductors (Tokyo Electron, TSMC, Applied Materials), Technology (Apple, Google), Automotive (Toyota, Porsche), and Luxury Goods (Louis Vuitton, Cartier). This diversity indicates strong innovation in both advanced technology and consumer-oriented industries.

  • Rising Innovators

Rising innovators like Prime Planet Energy & Solutions (founded in 2020 with 54 patents) and AXEVIS GmbH (founded in 2009 with 46 patents) show promising activity in battery technology and IT solutions. Their rapid innovation growth reflects emerging trends in energy and digital solutions.

  • Established Innovators vs. Newcomers

Long-standing companies, such as Canon (founded in 1937) and Sumitomo Chem (founded in 1913), continue to innovate alongside newer companies like Sony Semiconductor Solutions (founded in 2015) and Coupang (founded in 2010). This mix highlights both the enduring commitment of established companies and the dynamic contributions of recent entrants.

  • Innovation Clusters

Innovation clusters are evident within Semiconductors (Tokyo Electron, TSMC, ASM IP Holding BV), Automotive (Toyota, BMW, Porsche), and Luxury Goods (Louis Vuitton, Cartier). These clusters underscore specific industries where companies have concentrated expertise, fostering competitive advantages.

  • Promising Future Sectors

Future growth is likely in Battery Technology (Prime Planet Energy & Solutions, CATL) and Internet Services (Google, Beijing Baidu Netcom Science & Technology), aligning with global demand for sustainable energy and digital transformation.

  • Patent Productivity

High patent productivity is demonstrated by companies like Coupang and Universal Display Corporation, which have a substantial patent output relative to their size. This suggests a focused R&D strategy that amplifies their impact in specific niches, such as e-commerce and OLED technologies.

 

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Our comprehensive report provides an in-depth look into the patent portfolio. The report includes a breakdown of the patent portfolio across various technologies, listing the patent along with brief summaries of each patent's technology.