Kibo, Korea Gas Safety Corporation Share Unused Patents for Free

Support for Open Technological Innovation... Business Agreement

On the 16th, the Korea Technology Finance Corporation (Kibo) announced that it signed a business agreement with the Korea Gas Safety Corporation to support open innovation activities of small and medium venture businesses and utilize the technology transaction platform.

This agreement was established to support the innovative growth of small and medium venture businesses by building an organic cooperative system between Kibo and the Gas Safety Corporation, linking information through Kibo’s technology transaction platform, ‘Smart Tech Bridge,’ and revitalizing technology transactions in the gas safety sector, including the unused patent free sharing project led by the Ministry of Economy and Finance.

According to the agreement, both organizations will promote joint marketing for efficient technology transactions such as the unused patent free sharing project, utilize the e-electronic contract system through Smart Tech Bridge, establish a joint promotional system targeting platform participating companies and institutions, and exchange information on each organization’s core competencies and technologies. They also agreed to work together to enhance technology transfer and commercialization of public research and development (R&D) achievements in the gas safety sector. Taking this agreement as an opportunity, both organizations plan to increase the utilization of unused patents and establish specific cooperation plans such as information linkage methods to support technology transactions and commercialization for small and medium enterprises in the future.

Kibo’s ‘Smart Tech Bridge’ has been adopted as a key contract tool for the Ministry of Economy and Finance’s ‘Private-Public Institution Cooperation Unused Patent Free Sharing Project.’ It automatically recommends necessary information to users through an artificial intelligence (AI) engine and implements an online electronic contract system to provide a convenient and secure technology transaction environment. Lee Sang-chang, Director of Kibo, said, “The e-electronic contract system of Smart Tech Bridge will make the technology transfer process more efficient and transparent,” adding, “Through this agreement, we hope that excellent patented technologies in the gas safety sector will be smoothly transferred to small and medium enterprises and become a model case of open technological innovation.”