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South Korea was found to be the most innovative nation in the world, a report by the European Union said Sunday.

According to the Innovation Union Scoreboard 2015 issued by the European Commission, South Korea earned 0.759 point out of 1 in global innovation performance, topping the list of EU member nations and the world's 10 major countries.

It is the second consecutive time that South Korea ranked first.

The performance was measured based upon 12 indicators, such as education level, research and development expenditures by the public and business sectors, intellectual assets and exports.