Two South Korean firms—Naver and AmorePacific—were included in the U.S. business magazine Forbes’ World’s 100 Most Innovative Companies list.
Naver, the largest online portal in Korea, ranked No. 21 on the list, while AmorePacific, the leading cosmetics firm in Korea, was positioned at No. 28.
Naver was the only Korean company which ranked within the top-100 list for two straight years. Naver climbed up by 32 notches from No. 53 last year.
In the Internet software and services category, Naver ranked No. 2 behind China’s Baidu. Even among companies in the Asia-Pacific region, Naver ranked No. 6.
Forbes, in particular, shed light on how AmorePacific became one of the most innovative companies. The Forbes picked AmorePacific’s cushion cosmetics as one of the most innovative items. The company’s cushion cosmetics product is a makeup product that can be used more conveniently without the need to have users’ hands wet with the foundation.
