LSIS was named a world-class innovative enterprise for the third consecutive year.
LSIS held a ceremony to celebrate the company’s inclusion among the World’s Top 100 Innovative Enterprises selected by global consulting group and communication company Thomson Reuters at LS Tower in Anyang, on Oct. 10, 2013. This is the third consecutive year that LSIS received this award.
LSIS Vice Chairman Koo Ja-kyun met and talked with Thomson Reuters IP & Science Korean branch general manager Kim Jin-u and received an innovative enterprise trophy.
“We are honored to have been named among the world’s top 100 innovative enterprises, a world-class innovative index, for three consecutive years. I am particularly pleased that our employees’ efforts for IP and corporate innovation have borne fruit,” Koo said.
He went on to add that LSIS makes R&D innovation its top-priority value for continuous growth and that the company invests 6 percent to 9 percent of its sales revenue into R&D every year. “To capture global market leadership, we will expand our IP portfolio across all our business categories, thereby further bolstering our competitiveness in the intellectual property category,” he vowed.
On Oct. 8, Thomson Reuters evaluated global major enterprises’ innovation and announced the world’s top 100 innovative enterprises for 2013. The evaluation was based on four indicators: total number of patent applications; patent registration success rate; percentage of patent applications in four overseas regions (United States, Europe, China, and Japan); and patents being quoted.
Overall, 46 enterprises in North America, 32 in Asia, and 22 in the EU were selected. South Korea only had three companies listed: LSIS, LG Electronics, and Samsung Electronics.
LSIS enjoys the distinction of becoming a three-time winner for the annual top 100 innovative enterprises list since 2011 when the award was launched.
Since Vice Chairman Koo took office in 2008, LSIS has aggressively performed patent activities to create standard patents in its strategic businesses — such as smart grids and electric vehicle parts — and to bolster its domestic and overseas IP portfolios.
LSIS constructed an HVDC plant in Busan in 2011 and an EV relay plant in Cheongju in 2012. It began construction of an R&D Center in Anyang this year. The company has invested 6 percent to 9 percent of its sales in R&D annually, thereby bolstering its innovation activities.
In addition, to develop products and technologies suited for international standards, 10 of the company’s employees are participating in international standard activities as members of the 10 committees of the IEC.
As a result, the company has secured several standard patents and its domestic and overseas patent applications and registrations continue to increase. In 2010, when the South Korean government launched the green certification system, LSIS acquired the first certification and is the current holder of the largest number of certifications.
‘Stability-Focused Management’ for Long-term Growth Pays Off
LSIS recorded revenue of 2.352 trillion won, operating profit of 174.9 billion won, and net profit of 114 billion won in 2013, for a year-on-year growth rate of 5.4 percent, 13.5 percent, and 17.2 percent, respectively .
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