Business

Samsung retains second spot in global spending on research and development

A survey by the European Commission’s Economics of Industrial Research and Innovation center reveals that Samsung has retained its second spot in the global ranking for industrial research and development spending for three years in a row. The annual survey lists 75 South Korea-based companies among the world’s top 2,500 companies that invested significant resources into research and development.

The list also includes 837 companies based in the United States, 590 in the European Union, 356 in Japan, 327 in China and 111 companies based in Taiwan. “Global R&D is concentrated with the top 100 global R&D investors accounting for 53.1 percent of the R&D of the whole top 2,500 and the top 50 companies accounting for 40 percent,” the European Commission’s Economics of Industrial Research and Innovation Center mentioned in a statement on its official website.

Samsung retains the second spot on the top ten list which includes companies like Google’s parent company Alphabet, Microsoft and Novartis.

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