Record of 'Jisik Jaesan Gongje' Membership Surpasses 6,000 Companies

Event Held with Intellectual Property Mutual Aid Customers

[Asia Economy Reporter Kim Cheol-hyun] The Korean Intellectual Property Office (Commissioner Kim Yong-rae) and the Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter Kibo) announced on the 19th that as of the end of March, 6,082 companies have subscribed to the Intellectual Property Mutual Aid product, with cumulative premium payments reaching 45.5 billion KRW.

Intellectual Property Mutual Aid is an intellectual property financial system introduced for the first time domestically in August 2019 by Kibo in collaboration with the Korean Intellectual Property Office. It aims to alleviate the burden of intellectual property costs and intellectual property dispute risks for small and medium-sized enterprises (SMEs) and mid-sized companies caused by domestic and international patent disputes and overseas applications, and to support overseas expansion.

Companies subscribed to Intellectual Property Mutual Aid can receive various benefits such as ▲premium interest rates higher than those of commercial bank savings ▲reduction of Kibo guarantee fees ▲loans for intellectual property costs up to five times the premium payment amount ▲rapid support for emergency management fund loans up to 90% of the premium payment amount ▲free consulting services including patent, legal, and tax advice ▲partial waiver of official fees when applying for priority examination at the Korean Intellectual Property Office ▲additional points in Korean Intellectual Property Office support projects.

Additionally, since August last year, Kibo has significantly lowered the interest rates on Intellectual Property Mutual Aid loans, contributing to overcoming the crisis faced by companies subscribed to the Intellectual Property Mutual Aid who are struggling due to COVID-19. Various events with customers will also be held until June 11. During the event period, rewards will be given to ▲existing customers who recommend new customers ▲employees of related organizations such as the Korean Patent Attorneys Association ▲mutual aid partners, and a welcome event with a lottery for new subscribers will be held simultaneously.

Director Lee Jong-bae of Kibo stated, "Intellectual Property Mutual Aid has established itself as an intellectual property financial system that supports overseas expansion of SMEs and mid-sized companies, protects intellectual property, and strengthens competitiveness by enabling all processes from subscription to loan application, contract, and extension to be handled online in a one-stop manner within the framework of private mutual aid." He added, "We plan to continue developing Intellectual Property Mutual Aid through various methods."