S.Korea invests $763.4 mn in strategic tech IP like aerospace, robotics

The government has named 13 universities specializing in lab startups and 140 innovative startup labs

Getty Images 
Getty Images 
Hae-Sung Lee 1
2023-04-03 11:06:17 ihs@hankyung.com
Tech, Media & Telecom

The South Korean government will inject this year budget of 1 trillion won ($763.4 million) in intellectual property (IP)-related projects.

The Presidential Council on Intellectual Property on Sunday confirmed its fourth comprehensive plan for training IP personnel and this year's national plan for the sector.

The main purpose is to spread an "IP-R&D" support project led by the Korean Intellectual Property Office to all government departments to secure IP for 12 national strategic technologies like system semiconductors, quantum technology such as that for computers and information and communications, space and aviation, and robotics. IP-R&D refers to deciding on research and development (R&D) strategies by analyzing patent big data on technologies and markets.

The government also announced designation of 13 universities specializing in lab start-ups and the running of 140 "innovative start-up labs" to support the research results of collegiate labs and encourage the setup of technologically innovative startups. In addition, IP convergence education will be launched at 50 departments of 32 universities nationwide.

Public IP investment this year is an estimated 1.1 trillion won for 107 specific tasks, up 2.2% from 990.1 billion won last year. IP here refers to industrial-related rights such as patents, copyrights and trade secrets.

Chaired by the prime minister, the council is the nation's highest-ranking policymaking body for IP, with 13 Cabinet ministers and 18 private members participating. Its secretariat, the Office of IP Strategy and Planning, is under the Ministry of Science and ICT.

Write to Hae-Sung Lee at ihs@hankyung.com
#Korean government #intellectual property #IP #strategic tech #system semiconductors #quantum technology #robotics #aerospace

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