Patent Office: "Ideas Submitted by the Public to Be Utilized by Public Institutions"

Provided by the Korean Intellectual Property Office

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Korean Intellectual Property Office (KIPO) supports idea transactions between the public and public institutions.

KIPO announced on the 11th that it will hold the "Innovation Idea Contest with Public Institutions" from June 12 to July 8.

The contest is promoted to utilize public ideas for public institutions' Environmental, Social, and Governance (ESG) practices, social contribution activities, and new business discovery.

Eleven public institutions, including Korea Electric Power Corporation and Korea Western Power, will participate in the contest to seek solutions for a total of 20 tasks. The total prize money for the contest is up to 53 million KRW.

Among the participating institutions, Korea Electric Power Corporation offered a maximum prize of 10 million KRW each, totaling 20 million KRW, for ideas on "Recycling Waste Utility Poles" and "Preventing Vehicle Collisions with Power Facilities."

Applications for the contest can be submitted through KIPO's idea platform "Idea-ro," and anyone with ideas to solve the tasks can participate.

KIPO plans to award prize money and certificates along with the rewards provided by each institution to encourage the adoption of more ideas by public institutions.

Jung Yeon-woo, Director of the Industrial Property Policy Bureau at KIPO, said, "We hope various ideas will be proposed to enable management innovation of public institutions, including ESG practices, through public ideas."

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