"Intellectual Property Transactions to Shift Toward a Market-Centered Paradigm"

[Financial News] The Ministry of Intellectual Property announced that it will hold the In-Depth Forum on Intellectual Property Transactions at Novotel Ambassador Gangnam in Seoul on the afternoon of the 2nd to explore ways to promote intellectual property (IP) transactions. About 30 people, including representatives of companies seeking IP, supply institutions such as universities and public research institutes, intermediary organizations and investment institutions, will attend the forum.
 Korea has continued to achieve quantitative growth in intellectual property transactions. The number of public research institutions generating annual technology royalty revenues of at least KRW 1 billion has steadily increased, from 10 in 2007 to 53 in 2024. In the private sector, large global contracts by pharmaceutical and biotechnology companies helped drive technology exports in the pharmaceutical and biotechnology sectors above KRW 2 trillion last year, marking a notable achievement.
 Despite these achievements, concerns have continued that growth in the intellectual property transaction market remains slow because of an imbalance between the technologies supplied and those demanded by the market, a shortage of transaction experts, and related regulations.
 In fact, technology-transfer revenues at Korean universities and public research institutes totaled KRW 278 billion in 2024, falling short of the KRW 639.5 billion generated by a single U.S. university, the University of Pennsylvania. In response, the Ministry of Intellectual Property decided to thoroughly reorganize the intellectual property transaction ecosystem around the market and arranged the forum to hear from industry participants.
 Under the theme “Finding Answers to Intellectual Property Transactions in the Market,” the forum will hold in-depth discussions on improving the efficiency of intermediary systems, creating high-quality IP based on market demand, eliminating unreasonable regulations, and expanding domestic and overseas transaction markets. The Ministry of Intellectual Property plans to reflect the difficulties and policy recommendations gathered at the forum in establishing future policy directions.
 Kim Yong-sun, Commissioner of the Ministry of Intellectual Property, said, "For intellectual property transactions to lead to securing new growth engines for companies and creating national wealth, we must thoroughly shift the paradigm toward a market- and consumer-centered approach." He added, "We will strengthen the foundation for private players to operate independently in the market and concentrate our policy capabilities on ensuring that our outstanding patents receive fair recognition for their value on the global stage." 


[email protected] Kim Won-jun Reporter