Choi Jin-sik, Chairman of the Federation of Medium-Sized Enterprises, "Support for Intellectual Property Commercialization Must Be Strengthened"

Need to Expand Tax Incentives Including Introduction of Korean-Style Patent Box System
Request to Establish 'Help Desk' for One-Stop Patent Support Exclusively for SMEs and Mid-Sized Companies

Choi Jin-sik, Chairman of the Korea Federation of Medium-sized Enterprises, stated that in order to secure a leading position in the global technology hegemony competition, institutional and administrative support for the commercialization of intellectual property as a foundation of innovative technology capabilities must be strengthened.

Choi Jin-sik, Chairman of the Korea Federation of Medium-sized Enterprises (right), met with Kim Wan-gi, Commissioner of the Korean Intellectual Property Office, who visited the federation on the 9th, and delivered the 'Policy Proposals for Medium-sized Enterprises.'
[Photo by Korea Federation of Medium-sized Enterprises]

On the 9th, Chairman Choi met with Kim Wan-gi, Commissioner of the Korean Intellectual Property Office, who visited the Federation, and said, "Although Korea is one of the top five intellectual property powerhouses boasting the world's number one patent applications relative to GDP and the fourth in international patent applications, tax support for intellectual property commercialization is still insufficient." He added, "Through a progressive approach such as the introduction of a Korean-style patent box system that applies comprehensive tax support to income from the commercialization of intellectual property including patents, we must actively promote technology commercialization and industrial utilization based on intellectual property rights."

Chairman Choi emphasized, "Especially to establish a sustainable growth foundation in industries outside of advanced sectors like semiconductors and secondary batteries, the patent examination period must be significantly shortened, and support programs to strengthen capabilities in responding to patent disputes should be expanded."

He further stated, "Medium-sized enterprises account for 6% of total intellectual property registrations and 28.2% (4.3 billion dollars) of total technology exports, making them a core group of companies contributing to strengthening national economic security and stabilizing supply chains." He requested, "I hope you actively consider establishing a one-stop support 'Help Desk' exclusively for small and medium-sized enterprises, including a tax support package for overseas patent applications and registrations, which is currently nonexistent, as well as solutions for patent disputes."

On the same day, the Federation delivered seven policy proposals for medium-sized enterprises to strengthen intellectual property competitiveness, including the 'introduction of a Korean-style patent box system' and 'strengthening rights protection through shortening patent examination periods.'

Kim Wan-gi, Commissioner of the Korean Intellectual Property Office, responded, "We will comprehensively support all areas of intellectual property creation, utilization, and protection so that medium-sized enterprises can grow into Korea's national representative export companies and enhance their intellectual property competitiveness."

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