The Korean Intellectual Property Office said Tuesday that it will operate an online IP education curriculum in English, using a platform it jointly developed with the World Intellectual Property Organization and the Korea Invention Promotion Association.Applicants may sign up for the Advanced International Certificate Course at the IP Discovery website (http://www.ipdiscovery.net) until May 9 and online courses are to start immediately upon registration, according to KIPO.“The semi-yearly 12-wee

Industry April 3, 2018

The central bank chief on Monday pledged to focus on change and innovation, signaling a more active and practical policy approach in the next four years compared to his initial first term in office. “For the past four years, we have placed focus on aligning the organization but from now on (we) will seek change and innovation,” Bank of Korea Gov. Lee Ju-yeol told reporters after his inauguration ceremony, starting his second term in office.Lee, who is the first BOK chief in 44 years

Economy April 2, 2018

South Korea’s Samsung Electronics outran US tech giant IBM in the number of US patents at of the beginning of this year, data showed Sunday. LG Electronics ranked No. 7.Samsung held 75,596 US patents as of Jan. 1, according to the top 100 list tallied jointly by patent journal IAM and intellectual property big data analysis company ktMINE.IBM, which had maintained the top position for 25 years, ranked second at 46,443 patents.The report predicted that the Korean tech player would maintain the to

Industry April 1, 2018

South Korea’s game industry, which has been enjoying an unrivaled lead in the world market, is increasingly struggling against Chinese firms copying ideas.But the developers mostly have themselves to blame for underestimating the importance of copyright for so many years, according to a game business expert.“Korea’s major players that have led the game industry boom in the late 1990s and early 2000s were too arrogant to face up to the potential threat of copyright abuses,” Wi Jong-hyun, professo

Industry April 1, 2018

The South Korean government on Thursday demanded the US correct a recent statement concerning the Korea-US bilateral free trade deal amendment, saying that the trade negotiation did not involve a currency cap deal.The refutation came in the wake of reports from Washington late on the previous day that both states had agreed to prohibit deliberate currency devaluation on the sidelines of the Korea-US Free Trade Agreement renegotiation, in which case Seoul’s export-dependent economy would be

Economy March 29, 2018

Celebrating its 30th anniversary of business in South Korea this year, McDonald’s Korea pledged Tuesday to make continuous efforts to foster communication with customers and boost the local economy.Since kicking off here in 1988, the year of the Seoul Olympic Games, the US-based fast-food franchise has expanded from a 100-employee business to one of the largest and most popular casual restaurants.Over the past three decades, the burger brand has set various new trends in the local food industry,

Industry March 27, 2018

The state-run Korea Development Bank’s chief Lee Dong-gull on Monday upped the pressure on ailing Kumho Tire’s resistant labor union, saying it flip-flopped on a verbal agreement on the company’s sale to China’s Doublestar over the weekend.Lee called for the labor union to meet the deadline set by creditors for Friday by holding a general vote of all employees, but the union immediately refused the proposal, arguing that it had never consented to the sale plan.“We suggest that the union holds a

Industry March 26, 2018

Trademark rights, which determine whether a name, sign, or expression may be commercially monopolized by a specific business entity, are often a subjective notion that constantly interacts with the changing society, according to an intellectual property litigation expert.“One of the most distinctive characteristics of trademarks is that they are strongly influenced by consumer sentiment at a given time,” Kim Un-ho, partner in the IP Practice Group at law firm Lee & Ko, told The Korea Herald in a

Industry March 25, 2018

The United States’ latest decision to nudge up its key interest rate and the consequent “reversal” of policy rates with South Korea appeared Thursday to have a limited impact on Asia’s fourth-largest economy.Washington’s signal for the start of a belt-tightening monetary policy over the coming years, however, increased pressure for Seoul’s central bank to consider its own rate hikes despite the tepid economic recovery pace, low inflation and unabated household

Economy March 22, 2018

South Korean tech giants Samsung Electronics and LG Electronics were the world’s top two applicants in industrial design rights in 2017, according to data from the World Intellectual Property Organization.The number of designs under the Hague System grew by 3.8 percent last year to reach 19,429 designs, marking 11 consecutive years of growth, WIPO said Wednesday in a press release.The Hague System is a leading international application and registration procedure administered by WIPO. It allows d

Industry March 21, 2018

Despite its active involvement in the blockchain industry and intellectual property sector, South Korea still remains a step behind when it comes to standard essential patents related to blockchain, data from the Korean Intellectual Property Office showed Wednesday.The number of blockchain-related patents in the world’s top five regions in intellectual property -- South Korea, the US, Japan, China and the European Union -- stood at 1,248 as of the end of January this year, KIPO said in a release

Industry March 21, 2018

Speculations rose Tuesday that South Korea may have to make compromises concerning its free trade deal renegotiation with the US, as it seeks to be exempted from the Trump administration’s new steel tariff. The possibility escalated after Seoul’s top economic policymakers expressed optimism over the tariff exemption, with days remaining until the measure takes effect. “I expect to have some good results within the week,” Minister of Trade, Industry and Energy Paik Un-gyu

Economy March 20, 2018

South Korean financial companies’ investments in Vietnam have grown by more than 500 percent over the past 10 years, in particular marking an uptick since last year, on the back of President Moon Jae-in’s Southeast Asia-friendly initiative, data showed Monday.The volume of investments made by domestic financial companies to the Southeast Asian state stood at $123 million last year, up 509.88 percent from 10 years prior, according to statistics from the Overseas Economic Research Inst

Market March 19, 2018

Even in developed economies that uphold high standards on intellectual property -- including South Korea -- the severity of damage caused by the production and distribution of counterfeits is not to be underestimated, according to a senior official of a leading European business advocacy organization here.“Despite recent fluctuations in global ranking, South Korea offers a fairly good legal framework for intellectual property rights,” Sven-Erik Batenburg, director of legal and international affa

Industry March 18, 2018

The Financial Supervisory Service on Thursday urged foreign financial companies operating here for more efforts in anti-money laundering actions amid increasing cross-border transactions and the rapid advancement of financial technology services.Underlining the country’s upper hand in information and communication technology and innovation, the watchdog also encouraged companies from advanced countries to actively share their financial technologies and operating know-how.The 10th annual se

Market March 15, 2018