By Lee Yoonseo and Lee Hana

Forbes has unveiled its 2018 list of the world's most innovative companies, and a total of four Korean firms made the list, including Naver in ninth place and Celltrion in 14th.

Naver, the biggest search engine and internet portal in Korea, placed one step above Facebook, which came in 10th. Celltrion is a biopharmaceutical company that currently develops and distributes the most biosimiliar drugs in the world.

Other Korean companies that made the list include Amorepacific, a cosmetics firm, in 18th place, and LG Household & HealthCare, in 27th.

Forbes creates the World's Most Innovative Companies List each year based on the companies' innovation premium -- the difference between their market capitalization and the net present value of cash flows from existing businesses -- and the firm's ability to be innovative now and in the future.

This year, the number one title went to ServiceNow, a cloud computing company based in California.

clo1120@korea.kr