President Moon: "Increase R&D and Patent Utilization Rates... Expand Intellectual Property Finance"

The view of Cheongwadae from Namsan, Seoul on the 11th. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Lee Ji-eun] President Moon Jae-in has instructed to devise measures to increase the utilization rate of patents so that research and development (R&D) achievements, including patents, can be linked to industrial production, and to increase the amount of intellectual property (IP) financing for small and medium-sized enterprises (SMEs).

Park Soo-hyun, the Blue House Chief of Public Communication, revealed on Facebook on the 31st in a post titled 'The President's Story Not in the Briefing' that President Moon gave these instructions during the senior secretaries and aides meeting on the 26th.

At the meeting, President Moon said, "Our country's number of patent applications per capita ranks first in the world, and R&D as a proportion of gross domestic product (GDP) is also number one globally, which is a source of pride and shows that our national power is advancing," but he pointed out that "the rate at which these are actually commercialized or the rate at which R&D achievements are connected to industrial production is low."

He then instructed, "I hope you will devise more ways to increase the utilization rate of patents."

President Moon also said, "Even if technology development is based on ideas, funding is needed to commercialize them, and many patents remain unused due to lack of such capability," adding, "The amount of intellectual property (IP) financing is still insufficient, so please focus more on efforts to increase this."

He urged the establishment of a system to protect inventions created by artificial intelligence (AI), stating that there is currently no way to protect such inventions. President Moon said, "It is also an option for our country to be the first to review protection systems," and added, "It is necessary to take the lead in creating and implementing such systems and to work with foreign countries to broaden consensus."

Additionally, he emphasized allowing SMEs to use technologies developed by the public sector free of charge if they have not been utilized for a certain period, and urged strengthening the capabilities of the Korea Patent Strategy Development Institute to firmly support the protection of patented technologies for SMEs.

This content was produced with the assistance of AI translation services.