Kibo, 'Patent Evaluation System' Spreads from Central to Local Regions

Busan Bank and Local Banks Sign Business Agreement to Promote IP Finance Activation

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 12th that it signed a 'Business Agreement for the Activation of Intellectual Property (IP) Finance by Regional Banks' with Busan Bank to promote innovation startups and commercialization based on intellectual property (IP).

Through this agreement, the newly implemented 'IP Fast Agreement Guarantee' is a specialized product that supports funds required for the commercialization of intellectual property by utilizing the AI-based Patent Evaluation System (hereinafter KPAS). According to the agreement, Kibo will provide preferential support for IP guarantees up to 300 million KRW through AI technology value evaluation, and Busan Bank will support patent evaluation fees.

There has been a continuous issue that IP finance has been concentrated in the Seoul metropolitan area, including Seoul. In response, Kibo developed a regional bank-tailored IP guarantee product that can reduce the time and cost required for patent evaluation through KPAS, and it is expected that financial support for excellent intellectual property holding companies located in regional areas will increase through this agreement.

Since introducing the country's first IP guarantee in 2006 to activate IP finance, Kibo has discovered small and medium-sized enterprises with excellent intellectual property and newly supported approximately 2.4346 trillion KRW in IP guarantees until September this year. In particular, since last year, the scale of new supply has dramatically increased by fully utilizing KPAS in IP guarantees.

Director Lee Jong-bae of Kibo stated, "Through this agreement, excellent intellectual property holding companies in regional areas can now quickly receive IP guarantees through KPAS," and added, "We will do our best to support the innovative growth of excellent intellectual property holding companies located in regional areas by expanding cooperation with other regional banks."

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