So-Bu-Jang 'Patent Box' Meeting to Be Held on the 16th

[Asia Economy Reporter Junho Hwang] The National Intellectual Property Committee announced that it will hold a meeting on the effects of introducing the Patent Box system on the 16th.

This meeting is expected to serve as a forum for discussing the actual implementation of the Patent Box system, which has been raised to enhance corporate competitiveness amid the recent focus on technological independence of small and medium-sized enterprises in materials, parts, and equipment.

The Patent Box is a system that reduces corporate tax on income generated from the commercialization of intellectual property such as patents. It is implemented in countries including the United Kingdom, the Netherlands, Ireland, and Belgium.

On the day, Dr. Sangkyu Cho from the Intellectual Property Research Institute will present 'Measures for the Domestic Introduction of the Patent Box System.' Experts from KDI, the Korea Chamber of Commerce and Industry, and patent attorneys will discuss the economic impact of the Patent Box system, the operational status of major IP5 countries, and system design methods.

The committee plans to continuously review the necessity of introducing the Patent Box system through consultations with government ministries and related organizations by compiling the results of this discussion.

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