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LS ELECTRIC has been honored as one of the top 100 global innovators in the report recently released by Clarivate. The company announced that the trophy delivery ceremony attended by representatives of both companies—LS ELECTRIC CTO Kim Yeong-geun and the CEO of Clarivate Korea—was held at its R&D Campus in Anyang, Gyeonggi-do.

Published annually since 2012, the report analyzes and evaluates patent applications and invention activities for leading companies that create and show new ideas in the world and selects the top global innovative companies.

According to this year’s report, a total of 29 companies made it to the top 100 global innovative companies for the 10th consecutive year. Among the South Korean companies, LS ELECTRIC, LG Electronics, and Samsung Electronics set a record of winning the honor for ten years in a row. In the Energy & Electrical sector where LS ELECTRIC belongs, only four companies—including Schneider Electric, Furukawa Electric, and Mitsubishi Electric—were listed.

This selection recognizes LS ELECTRIC’s global top-level rating in qualitative aspects, such as expansion of domestic and international IP portfolio, patent registration, patent approval success rate, simultaneous patent application rate and citation rate in four overseas regions (US, Europe, China, and Japan).

“The Top 100 Global Innovators have been selecting the leading innovative companies based on their patent activities every year since 2012. The fact that LS ELECTRIC has been selected for ten years in a row is a proof that the company has a global-level innovative culture, and that its impact on R&D and industrial innovation has been continuously increasing,” said Ahn Seong-sik, the CEO of Clarivate Korea.

LS ELECTRIC adheres to the management philosophy that R&D innovation is the top priority for sustainable growth, and it has continued to carry out activities to secure core patents in strategic business in smart energy while strengthening domestic and overseas IP portfolios in the power and automation sectors.

In particular, it has been investing in R&D on ▲Smart power transmission and transformation, ▲Information and communication technology (ICT) and DC-based energy efficiency solutions, and ▲Smart factories that have attracted attention to key technologies in the 4th Industrial Revolution era. In the past five years, it has applied for 1,962 patents in Korea and 2,552 overseas.

“As the energy industry paradigm is shifting, we are focusing on R&D to provide solutions in the smart energy field based on ICT convergence technology. We plan to secure global business models based on the digital platform and continue to develop technologies that will lead the digital transformation (DT) era,” an LS ELECTRIC official said.