'Korean Registered Patents' Granted and Recognized Without Examination in Laos

[Asia Economy (Daejeon) Reporter Jeong Il-woong] A pathway has been opened for patents registered in Korea to be registered and recognized in Laos without undergoing a separate examination.

The Korean Intellectual Property Office (KIPO) announced on the 30th that it has signed a "Patent Recognition Cooperation Agreement" with the Laos Intellectual Property Department, which will take effect from the 1st of next month.

According to the agreement, domestic companies will be able to register patents locally in Laos within six months by simply submitting basic documents for patents already registered in Korea.

With the implementation of this system, it is expected that Korean companies wishing to enter the Laos market will benefit. Companies that have registered patents in Korea will be able to quickly register patents in Laos and enter the market stably.

Previously, KIPO signed the first patent recognition system cooperation agreement with Cambodia in August last year. Laos becomes the second partner country to which the patent recognition system applies.

Park Won-joo, Commissioner of KIPO, said, "KIPO plans to expand support for intellectual property infrastructure development targeting other emerging countries besides Laos," adding, "These efforts will expand the regions where our companies operate and accelerate the global balanced development of intellectual property."

Meanwhile, in Laos, the economically active population aged between 15 and 64 accounts for over 60% of the total population. In particular, Laos has achieved economic growth of over 6% in the past three years, and during the same period, Korean companies' investment in Laos has grown to an average of 100 million dollars annually.

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