South Korea is often called the world's most innovative country. Last year, for example, it beat Sweden and the United States to claim first place in Bloomberg's 2014 Global Innovation Index. If its endeavours are measured by financial commitment, South Korea is shining. The Organization for Economic Cooperation and Development's (OECD's) Science, Technology and Industry Outlook 2014 shows the country spent 4.4% of its GDP on R&D in 2012, leading the world. The Battelle Institute's estimates have South Korea's total R&D spending at about US$63 billion in 2014. The lion's share of these funds goes into industrial work led by giants, such as Hyundai and Samsung. But South Korean researchers also are making increasingly important contributions in basic and applied research, in fields ranging from nanotechnology to nuclear fusion and from stem cells to space science, and boosting efforts to transfer their advances to industry.