Hyundai Mobis Named Intellectual Property Management Company of the Year... Receives Minister of Trade, Industry and Energy Award

[Asia Economy Reporter Suyeon Woo] Hyundai Mobis has been selected as the Intellectual Property Management Company of the Year in recognition of its creation and utilization of intellectual property and its social contribution through patent rights.

Hyundai Mobis announced on the 9th that it received the Minister of Trade, Industry and Energy Award, the grand prize, at the '2020 Intellectual Property Management Company' awards ceremony held on the 8th at The State Hotel Seonyu in Seoul. This award is the most prestigious domestic award in the field of intellectual property, organized by the Korean Intellectual Property Office and the Korea Intellectual Property Association, selected comprehensively based on the creation and utilization of intellectual property, patent applications, and social contributions of patent rights.

Hyundai Mobis is known to have received high evaluations for establishing intellectual property management policies, quantitatively and qualitatively strengthening intellectual property rights, and efforts to revitalize the invention culture through increased investment in future car research and development.

Last year, Hyundai Mobis integrated a dedicated organization to efficiently respond to securing intellectual property and disputes. This was to strengthen competitiveness in the rapidly increasing intellectual property rights related to future cars and to proactively respond to brand protection and patent dispute prevention activities.

At the 2020 Intellectual Property Management Company of the Year Awards ceremony held on the 8th at The State Hotel Seonyu in Seoul, Choi Jun-woo, Head of Compliance and Intellectual Property at Hyundai Mobis (right in the photo), and Kim Yong-rae, Commissioner of the Korean Intellectual Property Office, are taking a commemorative photo after the awards presentation. Photo by Hyundai Mobis

Hyundai Mobis's intellectual property rights, including patents and design rights, have also significantly increased. This is because the company is focusing investment on patent development in core future car R&D fields such as autonomous driving, electrification, and connectivity. Hyundai Mobis is expanding its patent portfolio by nurturing and supporting key inventors through collaboration with patent agents from the early stages of new technology projects to preoccupy the relevant market.

Hyundai Mobis has provided some of the secured patent rights free of charge to partner companies. This is a 'win-win' method between Hyundai Mobis and its partners as part of shared growth management activities through intellectual property rights. Last year, Hyundai Mobis provided about 300 patents and also supports joint application costs with partner companies and small and medium-sized enterprises.

Additionally, Hyundai Mobis has encouraged the activation of an internal invention culture among employees and established a culture that promotes excellent patent applications and registrations. By operating a job invention system, it has significantly increased the job invention compensation paid to inventors for domestic and international patent applications and registrations, and also rewards outstanding invention organizations and individuals.

The background for Hyundai Mobis strengthening intellectual property rights is that competition to secure future car technology centered on IT and software is intensifying. Patent dispute prevention activities can eliminate intellectual property risks in advance, and the intellectual property held is also used as a valuation standard in equity investments, global open innovation, and collaborations with major universities.

Choi Jun-woo, Executive Director of Compliance and Intellectual Property at Hyundai Mobis, said in his award acceptance remarks, "Based on various patent nurturing programs, we will actively support inventors' convenience and leap forward as a leading intellectual property company that proactively responds to the rapidly increasing global patent issues."

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