Kibo Supports SMEs Against Technology Infringement with Large, Medium, Small Enterprises and Agriculture-Fishery Cooperation Foundation

Support for Damage Assessment and Evaluation of Technology Infringement Losses

The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 22nd that it has signed a "Business Agreement to Support the Calculation of Damages for Technology Infringement of Small and Medium Enterprises" with the Foundation for Cooperation between Large, Small and Medium Enterprises and Agriculture and Fisheries (Secretary General Kim Young-hwan, hereinafter referred to as the Cooperation Foundation).

This business agreement was prepared to establish a mutual cooperation system between the two organizations as specialized and operating institutions for the operation of the Ministry of SMEs and Startups' support project for calculating damages caused by technology infringement in small and medium enterprises.

Lee Jae-pil, Director of the Korea Technology Finance Corporation (right), and Lee Young-sook, Head of the Foundation for Cooperation between Large, Small, and Medium Enterprises and Agriculture and Fisheries, are posing for a commemorative photo after signing the agreement.

This project is a new initiative to support reasonable damage calculation for small and medium enterprises struggling with damage assessment due to technology infringement. It supports 50% of the cost of damage calculation for victim small and medium enterprises undergoing damage compensation lawsuits, mediation, or arbitration.

The two organizations agreed to mutually cooperate on ▲ tasks related to the support project for calculating damages caused by technology infringement in small and medium enterprises ▲ establishing a foundation for reasonable damage compensation support and advancement and activation of technology infringement damage assessment ▲ strengthening technology protection capabilities of small and medium enterprises and supporting damage recovery.

According to the agreement, the Cooperation Foundation will select companies eligible for technology infringement damage support and recommend them to Kibo, and Kibo's Central Technology Evaluation Institute plans to conduct fair and objective damage assessment evaluations through its value evaluation expertise and collaboration with external experts.

Lee Jae-pil, Standing Director of Kibo, said, "We hope that this agreement will help strengthen support for evidence submission and make damage calculation more realistic for small and medium enterprises that have suffered from technology infringement." He added, "Going forward, Kibo will lead the activation of the Ministry of SMEs and Startups' damage support project by accumulating various evaluation cases and strengthening the joint cooperation system so that many companies can receive practical benefits."