Prince Harry Couple Leaving British Royal Family... Sustaining Livelihood as 'Sussex Royal'

[Image source=AP Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Prince Harry and his wife, who declared their 'independence' from the British royal family, will officially step down from their royal duties starting this spring. At the same time, all financial support they received in exchange for performing royal duties will be discontinued.

According to a statement released through Buckingham Palace, the couple will have to support themselves financially after leaving the British royal family. They must also return the ?2.4 million (approximately 3.6 billion KRW) used to remodel Frogmore Cottage at Windsor Castle, which served as their residence.

The couple is planning to brand their title 'Sussex Royal.' They intend to register it as a global trademark to resolve their financial issues.

It is known that Prince Harry and his wife already submitted an application to the World Intellectual Property Organization (WIPO) last December to register 'Sussex Royal' as a trademark. Prince Harry received the titles Duke of Sussex, Earl of Dumbarton, and Baron Kilkeel from the Queen upon his marriage in May 2018. Since then, Prince Harry and Meghan Markle have been officially referred to as the Duke and Duchess of Sussex, respectively.

The trademark targets countries including Australia, Canada, other Commonwealth nations, the European Union (EU), and the United States. They plan to generate revenue by leveraging their brand value in these countries. Approximately 100 products are targeted, ranging from magazines, cards, clothing, books, stationery, charity projects, to broadcasting programs. Considering the couple's recognition in the Commonwealth and other regions, the trademark's value is expected to be enormous.

Having recently declared their withdrawal from the royal family, Prince Harry and his wife can no longer use the honorific 'His/Her Royal Highness' or hold official royal positions. However, as he was born a prince, he will retain the title 'Prince' and the dukedom of Sussex for the couple.

On the 21st (local time), Prince Harry left the UK and reunited with Meghan Markle, who is staying on Vancouver Island in Canada, along with their son Archie.