KIPO Supports and Promotes Inter-Agency Collaborative Intellectual Property Transactions

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Korean Intellectual Property Office (KIPO) is launching an inter-ministerial cooperative system to support technology (intellectual property) transactions.

On the 10th, KIPO announced that it signed a business agreement with the Ministry of SMEs and Startups, Korea Technology Finance Corporation, Korea Invention Promotion Association, and Korea Patent Strategy Development Institute to revitalize technology transactions.

The agreement focuses on establishing a cooperative technology transaction system by combining the strengths of each institution in the technology transaction field and providing one-stop technology transaction services to companies seeking to acquire external technologies.

First, according to the agreement, the Korea Technology Finance Corporation will discover the technology acquisition demands of small and medium enterprises through its nationwide network of 68 branches and guarantee and support funds for purchasing, commercializing, and business development of intellectual property to technology transfer companies.

Additionally, the Korea Invention Promotion Association will act as an intermediary to facilitate smooth transactions by providing growth strategy consulting for companies and searching and recommending optimal patented technologies for each company, while the Korea Patent Strategy Development Institute will assist in prototype production and testing/verification processes to ensure that patents owned by universities or research institutes lead to actual commercialization.

Furthermore, KIPO and the Ministry of SMEs and Startups will support policies and budgets to ensure the smooth operation of this cooperative technology transaction system and plan to link and share technology-related demand and supply information registered on the Ministry’s technology transaction platform 'Tech-Bridge' and KIPO’s intellectual property transaction platform ‘IP-Market’.

KIPO expects that once the inter-ministerial cooperative technology transaction support system is established, integrated services such as technology acquisition demand discovery, mediation, commercialization verification, and funding support will be systematically provided to companies.

Kim Yong-rae, Commissioner of KIPO, stated, “The significance of this agreement lies in promoting technology transactions through inter-ministerial collaboration,” and added, “KIPO will continue to focus on expanding the target institutions by consulting with other ministries to activate intellectual property transactions through such collaborative models.”

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