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Korea-ASEAN Private Intellectual Property Council implementation led by KIPA

– Signed MOU at Korea-ASEAN Intellectual Property Trade Fair held at the ASEAN-Korea Special Summit on the 27th

– Four ASEAN countries including Indonesia, Philippines, Singapore, and Vietnam participated

– KIPA will develop the intellectual property cooperation platform for the mutual growth in 10 ASEN countries in the future

Korea Invention Promotion Association (Chairman Koo Cha-yol) announced that it signed a Memorandum of Understanding (MOU) on the implementation of the intellectual property council with four Korea-ASEAN countries at Korea-ASEAN IP T&T Fair 2019 (Intellectual Property Trade Fair) on Dec. 27 in COEX Seoul, in line with the Korea-ASEAN Special Summit.

The number of countries that participated in MOU are Korea and four ASEAN countries, Indonesia, Philippines, Singapore, and Vietnam. From now on, the five countries including Korea agreed to continue exchanging the information for mutual cooperation and economic development, exploring the necessary technology, discover the needs of technology transfer, and cooperate on the intellectual property-based businesses.

KIPA is planning to develop itself as the intellectual property cooperation platform among the countries where the ten ASEAN countries including the six countries that have not signed the MOU can grow together.

Ko Jun-ho, the full-time vice president of KIPA said, “This is the first time to implement the intellectual property cooperative relationship among the private companies for an international community like ASEAN. We are anticipating in the aspect that we have provided the venue for mutual growth where the outstanding technologies and companies from different countries can exchange ideas and cooperate by implementing this council.”

He continued by saying, “This is highly meaningful in the sense that the Korea-ASEAN countries now have the actual channel for cooperation in the intellectual property exchange and business sectors, which has higher corporate adherence than the general cooperation.”

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