Incheon City Seizes Intellectual Property Rights to Collect 700 Million KRW in Local Tax Arrears

Incheon City has collected local tax arrears for the first time through the seizure of intellectual property rights.

The city announced on the 26th that it sent seizure notice letters to 568 local tax delinquents holding intellectual property rights and seized 45 intellectual property rights from 44 chronic delinquents, resulting in the collection of a total of 724 million KRW in arrears from 80 individuals.

Incheon City Hall

Previously, the city conducted a full survey, with cooperation from the Korean Intellectual Property Office and the Korea Copyright Commission, to determine whether 26,754 local tax delinquents owing more than 1 million KRW held intellectual property rights such as patents, trademarks, and design rights.

Intellectual property rights are classified into industrial property rights, such as patents and utility models, and copyrights. These rights are property rights that can be used directly or transferred to others.

An official from Incheon City stated, "Previously, tax delinquency enforcement focused on tangible assets such as real estate and vehicles, but given the significant value of intellectual property rights, we are seizing them to collect arrears," adding, "We will relentlessly pursue malicious delinquents to realize tax justice and foster a culture of sincere tax payment."

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