990 Billion Won Invested in National Intellectual Property Projects This Year

National Intellectual Property Committee Confirms Business Plan on the 31st of Last Month

[Asia Economy Reporter Kim Bong-su] The National Intellectual Property Committee announced on the 1st that it finalized this year's national intellectual property project plan, amounting to approximately 990 billion KRW, on the 31st of last month.

At the meeting held that day, the committee deliberated and approved two agenda items: the 2022 National Intellectual Property Implementation Plan (draft), the review and evaluation results of the 2021 National Intellectual Property Implementation Plan performance, and the 2023 resource allocation direction (draft).

This year, the committee will promote 5 major strategies, 16 key tasks, and 112 detailed tasks. The 5 major strategies are ▲ Promoting the creation and utilization of core IP in the era of digital transformation ▲ Strengthening strategic IP protection systems ▲ Fostering global small and medium-sized enterprises based on IP ▲ Developing K-content leading the spread of New Hallyu ▲ Establishing a foundation for a global IP leading country. A total of 990.1 billion KRW will be invested in fostering K-content that can lead the spread of New Hallyu, including the establishment of IP investment funds for overseas applications and support for immersive content using extended reality (XR).