KIBO Joins Hands with Innobiz Association Chungbuk Branch on Intellectual Property Mutual Aid Program

Creating a fund with paid contributions

On the 27th, Korea Technology Finance Corporation (KIBO) announced that it had signed a "Business Agreement for Joint Development through the Activation of the Intellectual Property Mutual Aid Program" with the Chungbuk branch of the Innobiz Association.

Kwon Sewang, director of the Kibo Intellectual Property Mutual Aid Center (left), and Ahn Junsik, head of the Innobiz Association Chungbuk Branch, are posing for a commemorative photo after signing a business agreement. Photo by Kibo

This agreement was prepared to expand enrollment in the intellectual property mutual aid program among technology-based small and medium-sized enterprises (SMEs) in the Chungbuk region and to raise awareness of the mutual aid program, by linking the corporate support infrastructure and local networks held by the two organizations.

The intellectual property mutual aid program is a system designed to support the securing of technological competitiveness by easing the cost burden related to intellectual property (IP) for small and medium-sized enterprises and mid-sized companies. It was introduced for the first time in Korea in 2019 by KIBO in cooperation with the Korean Intellectual Property Office.

KIBO creates a fund based on the contributions paid by enrolled companies, and when events such as intellectual property rights disputes or domestic and overseas filings occur, it supports the associated costs for enrolled companies, thereby helping their stable growth.

Under the agreement, KIBO will hold briefings on the intellectual property mutual aid program and provide customized consulting for technology-innovative SMEs in the Chungbuk region, while the Chungbuk branch will support promotion of the mutual aid program by utilizing its local corporate network. Through this, the two organizations plan to strengthen the intellectual property capabilities of local SMEs and continue their cooperation to revitalize the regional economy.

Ahn Junsik, Chairman of the Chungbuk branch, said, "We expect the intellectual property mutual aid program to provide substantial help in strengthening the competitiveness of technology-innovative SMEs," adding, "Taking this agreement as an opportunity, we will support local companies so that they can actively utilize the mutual aid system."

Kwon Sewang, Head of the Intellectual Property Mutual Aid Center at KIBO, said, "KIBO plans to actively utilize the local corporate network of the Chungbuk branch of the Innobiz Association to raise awareness of the intellectual property mutual aid program and vigorously carry out promotional activities to attract new enrollments," and added, "Through this agreement, we will make even greater efforts to expand enrollment in the intellectual property mutual aid program among local SMEs and to strengthen their technological competitiveness."

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