5 Most Advanced Countries in the World in 2023

2. South Korea

Ranking Composite Score: 6.52

South Korea is one of the leading R&D countries in the world given research and development expenditures accounted for 4.81% of the country’s GDP in 2020, ranking second in the world behind only Israel which spent 5.44% of its GDP on R&D. The R&D has generated substantial economic development for South Korea in the past given the country is now one of the most developed countries in the world with a GDP per capita of $34,997.78 in 2021.