Kibo Wins 'Best Award' in Pre-Consulting Category of Internal Audit Contest

Contribution to Activating Public Mutual Aid System for Protecting SME Patent Rights

Park Se-gyu, auditor of the Korea Technology Finance Corporation, is taking a commemorative photo after receiving a certificate of commendation.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 7th that it won the Grand Prize in the Pre-Consulting category at the 'Internal Audit Matters Contest' hosted by the Board of Audit and Inspection.

The Internal Audit Matters Contest is a competition introduced by the Board of Audit and Inspection to evaluate the performance of audit matters conducted by internal audit organizations nationwide, including central government agencies, local governments, and public institutions, and to share outstanding audit cases. Starting this year, it included the pre-consulting category performed by internal audit organizations.

The pre-consulting for the 'Patent Mutual Aid Project,' which Kibo was awarded for this time, recognized that the patent mutual aid project, promoted to protect the patent rights of small and medium-sized enterprises as a new business, had some deficiencies. Through the pre-consulting audit, legal and administrative issues were resolved to enable the relevant department to actively promote this project.

As a result of the work promotion following the pre-consulting, Kibo led the recognition of the scope of work by the Ministry of SMEs and Startups and the revision of the Enforcement Decree of the Invention Promotion Act by the Korean Intellectual Property Office (KIPO). Kibo was selected as the entrusted institution for KIPO's patent mutual aid project and is currently progressing smoothly with goals including 26,000 subscribing companies by 2025, support for overseas intellectual property applications of small businesses worth 110 billion KRW, and 43 billion KRW in patent dispute support.

Park Se-gyu, Auditor of Kibo, stated, "The Audit Office will continue to do its best to lead Kibo in fulfilling its social responsibilities and supporting the innovative growth of small and medium-sized ventures through active administrative support activities."

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