[Photo] KIPO-Seoul Rehabilitation Court Collaborate to Support Disposal of Secured IP for Rehabilitated Companies

[Asia Economy (Daejeon) Reporter Jeong Il-woong] On the 10th, the Korean Intellectual Property Office (KIPO) announced that it signed a memorandum of understanding (MOU) with the Seoul Bankruptcy Court to mutually cooperate in "expanding the utilization of intellectual property rights (IP) of rehabilitated companies." According to the agreement, both institutions will support the disposal of secured intellectual property that rehabilitated companies have found difficult to utilize due to various reasons. The court will promptly approve companies' applications to dispose of secured intellectual property for debt repayment, and KIPO will purchase these assets to assist in the early approval of rehabilitation plans. Kim Yong-rae, Commissioner of KIPO (right), is taking a commemorative photo with Seo Kyung-hwan, Chief Judge of the Bankruptcy Court (left), after signing the agreement. Provided by KIPO

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