Presidential Transition Committee Reports to KIPO: "Strengthen Intellectual Property Protection, Prevent Technology Leakage"

President-elect Yoon Suk-yeol is leaving the transition committee office set up at the Financial Supervisory Service Training Institute in Tongui-dong, Seoul, on the 28th./Photo by Transition Committee Press Corps

[Asia Economy Reporter Lee Gwan-joo] On the 28th, the Presidential Transition Committee received a briefing on the Korea Intellectual Property Office (KIPO) and reviewed the evaluation of key policy achievements in the intellectual property sector, along with measures for intellectual property protection and national research and development (R&D) strategies.

According to the Transition Committee, the members who received the KIPO briefing requested the establishment of a system that promotes patent commercialization and accurately evaluates intellectual property value, providing the evaluation results to companies.

They also urged active efforts to strengthen domestic and international patent analysis in major industrial sectors amid the growing importance of economic security due to recent US-China technological hegemony competition, and to prevent technology theft and leakage through intellectual property protection by utilizing retired personnel as examiners.

Additionally, they ordered the restructuring of the patent administration system for inventors and companies by applying artificial intelligence (AI) technology and to protect new digital technologies such as NFTs through intellectual property.

On the same day, KIPO reported on plans to support national policy formulation and government administration based on data by integrating patent data and public data, measures to enhance the economic outcomes and investment efficiency of national R&D, funding and growth support plans for small and venture companies utilizing intellectual property, measures to eradicate intellectual property infringement against Korean companies, and strategies to secure strategic technologies important for economic security and prevent their overseas leakage.