DB Insurance Signs MOU with Innobiz Association to Promote "SME Technology Dispute Litigation Insurance"

MOU Signed with Innobiz Association and Foundation for Small and Medium Enterprises and Agriculture-Fishery Cooperation
for SME Technology Dispute Litigation Insurance

DB Insurance announced on May 12 that it signed a memorandum of understanding (MOU) on May 8 at the DB Financial Center in Gangnam-gu, Seoul, with the Innobiz Association and the Foundation for Small and Medium Enterprises and Agriculture-Fishery Cooperation to promote the "SME Technology Dispute Litigation Insurance" program, which is implemented by the Ministry of SMEs and Startups. The signing ceremony was attended by around 10 representatives from each organization, including Choi Hyukseung, Head of Division at DB Insurance, Kim Hongseok, Executive Director of the Innobiz Association, and Bae Changwoo, Director of the Foundation for Win-Win Cooperation.

Choi Hyukson, Head of DB Insurance Division, is taking a commemorative photo with Kim Hongseok, Head of Innobiz Association Division, and Bae Changwoo, Director of the Foundation for Cooperation between Large, Small and Medium Enterprises and Agriculture and Fisheries, at the business agreement ceremony held at DB Financial Center in Gangnam-gu, Seoul.

"SME Technology Dispute Litigation Insurance" is a product that compensates small and medium-sized enterprises for legal expenses such as attorney and patent attorney fees required for lawsuits and other legal disputes related to technology. For domestic insurance, the government subsidizes 70 to 80 percent of the insurance premium, and for overseas insurance, 80 percent of the premium is subsidized. The maximum coverage is up to 50 million won per coverage for domestic insurance and up to 100 million won for overseas insurance.

Choi Hyukseung, Head of Division at DB Insurance, stated, "This business agreement will serve as a strong umbrella for Innobiz companies, helping them operate their businesses stably and escape the threat of technology theft," adding, "Going forward, DB Insurance will continue to take the lead in establishing a support system for protecting Innobiz company technologies by cooperating in various ways with the Foundation for Win-Win Cooperation and the Innobiz Association."

This program can be found on the website of the Foundation for Small and Medium Enterprises and Agriculture-Fishery Cooperation, which operates this project, or on the "SME Technology Protection Fence" website operated by the Ministry of SMEs and Startups.

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