No Korean business was included in Forbes magazine's list of the world's 100 most innovative companies released Friday.
The list has been running since 2011, and no Korean company has made the cut yet, in contrast to 11 firms from Japan, five from China, three from India and one from Taiwan this year.
Forbes evaluated companies based on sales growth in the last 12 months and five-year annualized total return.
Baidu, China's largest portal site, was the highest ranked Asian business with a sales growth rate of 44.6 percent and total returns in the last five years of 32.8 percent. With an innovation premium score of 60.6 points, it came in sixth place overall.
China's Henan Shuanghui Investment and Development and Tencent Holdings were placed 11th and 18th.
Rakuten was the highest-ranked Japanese company in ninth place. Others were Unicharm, which came 14th, Fanuc at 26, and Keyence at 36.
U.S. software company Salesforce.com ranked first for the third year in a row.