Ministry of Trade, Industry and Energy

Deputy Minister for Trade and Investment Kim Dae-ja of the Republic of Korea attended the ceremony for the signing of the Memorandum of Understanding (MOU) on Supporting IP-Owning Export Enterprises between the Korea Intellectual Property Office (KIPO) and the Korea Trade Insurance Corporation (K-SURE) today in Seoul. The MOU aims to help promising startups and SMEs leverage their intellectual properties (IPs) to enlarge global market presence and provide them with broader export financing support.

Under the MOU, KIPO and K-SURE agreed to jointly look for promising innovative startups and SMEs with their own intellectual property rights (IPRs), with KIPO providing support for IP valuation costs (up to 90 percent), consulting services for the use of IP financing worth KRW 3 trillion per year, and additional points in evaluation for IP-based overseas expansion support projects. K-SURE will increase the export credit guarantee limit (1.5 times higher), lower guarantee fees (30 percent), provide expert consulting services, and provide export financing worth KRW 2 trillion to around 1,000 companies over the next five years. 
 

Deputy Minister Kim said, “We will work with export support organizations to help promising export startups achieve growth in the global market through the use of IPRs and export financing.”