KIPO Secures 739 Billion Won Budget for Next Year... Focus on Supporting High-Quality Examination and Trial

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Korean Intellectual Property Office (KIPO) has secured a budget of 739 billion KRW for next year. This is an increase of 38.3 billion KRW (5.5%) compared to this year, and the budget will be focused on high-quality examination and trial support.

According to KIPO on the 26th, the budget for next year was finalized through the recent resolution of the National Assembly plenary session.

The investment budget by major projects for next year is allocated as follows: ▲ 138.7 billion KRW for providing high-quality examination and trial services using artificial intelligence ▲ 42.1 billion KRW for growth of the intellectual property market and establishment of fair trade order ▲ 62.9 billion KRW for future new industry patent-based research and development such as patent big data analysis ▲ 38.6 billion KRW for strengthening overseas intellectual property dispute response and expanding domestic intellectual property protection ▲ 0.8 billion KRW for fostering invention teachers to nurture intellectual property talent.

First, KIPO plans to develop a language model specialized for patents using ultra-large artificial intelligence and completely rebuild the outdated trial system to promote efficiency in its core tasks of examination and trial services.

Additionally, by linking investment and loans with intellectual property value evaluation, KIPO aims to revitalize the intellectual property financial market and establish an intellectual property value evaluation system so that patents acquired by companies can be fairly evaluated in the market.

KIPO will also enhance the utilization of patent big data information to improve the efficiency of national research and development. By analyzing patent big data, KIPO plans to discover promising technologies and expand support for establishing national research and development directions. It will strengthen the standard patent analysis project to reduce unnecessary technology royalties for domestic small and medium-sized enterprises in key national industry sectors such as 6th generation mobile communications (6G).

The budget for next year also emphasizes strengthening the foundation for domestic and international intellectual property protection and establishing a management system for patents of key national technologies.

In response to the intensifying global technological hegemony competition and the increased risk of international intellectual property disputes, KIPO will focus on providing customized response strategies for domestic export companies according to different dispute situations.

This year, the patent dispute response strategy support was conducted with a budget of 10.7 billion KRW, assisting 330 companies. Next year, KIPO plans to increase the budget to 12.7 billion KRW for patent dispute response strategy support and expand the number of supported companies to 402.

A KIPO official stated, “With the budget for next year finalized through the National Assembly resolution, we plan to make thorough preparations such as establishing business plans to enable prompt budget execution.”

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