On January 4, 2021, Korean Intellectual Property Office announced new changes to the intellectual property system in 2021, strengthening intellectual property protection, supporting small and medium-sized enterprises, and improving the convenience of intellectual property applications.
It mainly includes implementing a punitive damages compensation system, reducing or exempting small and medium-sized enterprises' patent investigation and analysis fees, and introducing a mobile patent application system.
All entities engaged in cooperative research and development with small and medium-sized enterprises will have the preferential fee reduction, and a 50% reduction in intellectual property application fees, examination fees, and registration fees.
South Korea will formulate relevant review rules for new trademarks and existing atypical trademarks (such as motion, color trademarks, etc.).
