On the 22nd, the Ministry of SMEs and Startups and the Korean Intellectual Property Office held a policy meeting with venture corporations at the Seoul Mario Tower.
This meeting was organized to address the challenges related to intellectual property rights faced by venture corporations and to support their global expansion based on inter-agency cooperation.
Venture corporations that attended the meeting demanded improvements to the performance compensation system for venture corporations and the protection of artificial intelligence (AI) technology, as well as the patent examination system. They also requested strengthening support for the commercialization of intellectual property for innovative corporations. Additionally, they suggested expanding support for the protection of small and medium-sized enterprises' technology, export assistance, and inter-agency cooperation for companies holding excellent patents.
Song Byeong-jun, chairman of the Venture Corporations Association, requested support and cooperation from the two ministries to enable venture corporations to continue their innovations despite environmental changes. The two ministries responded by agreeing to work together to establish a foundation for innovative venture growth.
Kim Seong-seob, Vice Minister of the Ministry of SMEs and Startups, noted, "Venture corporations are facing a difficult business environment due to the economic slowdown caused by the United States' tariff policy and the ensuing U.S.-China trade war, as well as the triple challenges of high prices, high exchange rates, and high tariffs, which have led to the stagnation of domestic demand." He stated, "We will actively reflect the suggestions made by venture corporations during the meeting into policies to strengthen their competitiveness and will do our best to enhance policy synergy by ensuring that both institutions actively cooperate in the field of intellectual property rights, which is closely related to the Korean Intellectual Property Office."