LS Industrial Systems Co. said Thursday it has been named one of the world’s 100 most innovative companies this year by Thomson Reuters, a leading financial news and information provider.

Korea’s largest producer of electrical components was among four Korean firms that made it onto the list. The other three are Samsung Electronics, LG Electronics and Cheil Industries.

“(The award) confirms an organization’s commitment to progressing innovation globally, to the protection of ideas and to the commercialization of inventions,” Thomson Reuters said in its report.

The New York-based firm launched the list this year, which has been compiled on four criteria ― patent approval success rate, global reach of patent portfolio, patent influence in literature citations and overall patent volume.

Of the 100 companies, 40 are based in the U.S., 31 are in Asia with 27 in Japan, and 29 are from Europe. Among them are Apple, 3M, General Electric, Bayer, Boeing, L’Oral and Hitachi.

LSIS has been aggressive in bolstering its patent portfolio since 2008 as it ventures into new fields such as smart grid and electric car parts.

The number of its patents surged 56 percent in the domestic market and 183 percent overseas last year from 2009, company officials said. But they declined to reveal the exact figure under agreements with certifiers.

LSIS shares fell 1.75 percent or 1,100 won (97 cents) to close at 62,200 won on Thursday after slightly rebounding during morning trading.

By Shin Hyon-hee (heeshin@heraldcorp.com)