Gibo, Sigong IPC, and Intellectual Property Mutual Aid Project Comprehensive Business Agreement

Agreed to Mutually Cooperate to Strengthen Corporate Intellectual Property Competitiveness

Lee Jong-bae, Director of Kibo (left), and Kang Il-shin, CEO of Sigong IPC, are posing for a commemorative photo after the signing ceremony.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo) announced on the 23rd that it has signed a comprehensive business agreement on the 'Intellectual Property Mutual Aid Project' with Sigong IPC (CEO Kang Il-shin), a private technology transaction institution, to strengthen the intellectual property competitiveness of small and medium-sized enterprises (SMEs) and mid-sized companies.

Based on this agreement, the Korea Technology Finance Corporation and Sigong IPC plan to introduce the intellectual property mutual aid system to companies that possess excellent technology or plan technology transfer, and expand mutual aid subscriptions to support disputes related to intellectual property such as patent litigation and trials that may arise in the future. Costs for domestic and international patent applications and expenses related to intellectual property transfer commercialization can also be resolved through low-interest mutual aid loans.

The intellectual property mutual aid is a financial system for intellectual property introduced domestically for the first time in August 2019 by the Korea Technology Finance Corporation in cooperation with the Korean Intellectual Property Office, designed to alleviate the burden of intellectual property costs and dispute risks for SMEs and mid-sized companies arising from domestic and international patent litigation and overseas applications, and to support overseas expansion. Companies subscribed to the intellectual property mutual aid can receive various benefits such as ▲a premium interest rate on savings higher than commercial banks ▲reduction of guarantee fees by the Korea Technology Finance Corporation ▲loans for intellectual property costs up to five times the amount of mutual aid contributions ▲rapid support for emergency management fund loans up to 90% of the contribution amount ▲free patent, legal, and tax advisory services ▲free support for official fees when applying for priority examination at the Korean Intellectual Property Office ▲additional points in Korean Intellectual Property Office support projects.

Thanks to the competitiveness of this product, as of the end of March, the number of subscriptions reached about 6,100 cases, the total mutual aid subscription amount reached approximately 218 billion KRW, and the cumulative contribution payment amount reached about 45.4 billion KRW. Director Lee Jong-bae of the Korea Technology Finance Corporation said, "With this agreement, we expect that companies possessing excellent technology or receiving technology transfers will be able to commercialize technology and grow into global companies without worrying about intellectual property disputes such as patent litigation," adding, "We plan to further expand the intellectual property mutual aid project through various methods in the future."

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