Record 'Jisikjaesan Gongje', Over 8,000 Companies Joined

Event Held with Intellectual Property Mutual Aid Customers

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 12th that as of the end of September, 8,067 companies have joined the Intellectual Property Mutual Aid, with cumulative premium payments reaching 76.3 billion KRW, thanks to competitive product operations and strong customer response.

The Intellectual Property Mutual Aid is an intellectual property financial system introduced for the first time in Korea in August 2019 by Kibo in collaboration with the Korean Intellectual Property Office. It aims to alleviate the burden of intellectual property costs and risks of intellectual property disputes for small and medium-sized enterprises (SMEs) and mid-sized companies caused by domestic and international patent disputes and overseas applications, and to support overseas expansion.

Companies subscribing to the Intellectual Property Mutual Aid can receive various benefits including ▲premium interest rates higher than those of savings accounts at commercial banks ▲reduction of Kibo guarantee fees ▲loans for intellectual property costs up to five times the premium payment amount ▲quick support for emergency management fund loans up to 90% of the premium payment amount ▲free advisory services on patents, legal, and tax matters ▲partial waiver of official fees when applying for priority examination at the Korean Intellectual Property Office ▲additional points in Korean Intellectual Property Office support projects, among others.

Kibo will also conduct various events with Intellectual Property Mutual Aid customers until December 10. During the event period, a campaign will be held to reward existing customers and mutual aid partners who recommend new customers, along with a welcome event where new customers will be selected by lottery for rewards.

Lee Jong-bae, a director at Kibo, said, "The Intellectual Property Mutual Aid has established itself as an intellectual property financial system that supports overseas expansion, intellectual property protection, and competitiveness enhancement for SMEs and mid-sized companies by enabling all processes from subscription to loan application, contract, and extension to be handled online in a one-stop manner within the framework of private mutual aid." He added, "We plan to further develop the Intellectual Property Mutual Aid through various methods in the future."

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