Patent Office and Daejeon City Accelerate Establishment of Regional Growth Model Based on Intellectual Property

On July 22 the Korean Intellectual Property Office (KIPO) and Daejeon Metropolitan City signed a Memorandum of Understanding (MOU) for Establishing a Virtuous Cycle Ecosystem of Regional Intellectual Property at the Government Complex Daejeon. This agreement aims to foster regional economic growth through intellectual property by creating a comprehensive cooperation framework encompassing education and industry with Daejeon City which aspires to be a top-tier economic city.

The signing ceremony was attended by the Commissioner of KIPO the Mayor of Daejeon and other key representatives from related organizations such as the Korea Invention Promotion Association the Korea Patent Strategy Development Institute the Daejeon Tourism Organization Daejeon Technopark and Daejeon Job Economy Promotion Agency.

The MOU outlines ten key areas of collaboration including:

Policy formulation for Daejeon’s strategic industries through patent big data analysis.
Capacity building and education in intellectual property for enterprises and citizens.
Support for establishing IP-based R&D strategies for businesses.
Joint establishment of intellectual property funds investment attraction and consulting on business presentations.
Hosting the Youth Invention Festival in Daejeon.
To ensure effective implementation a working-level consultative body will be formed and operated.

KIPO has been working to strengthen regional competitiveness based on intellectual property by diversifying its cooperation entities to include local governments educational offices universities and regional companies. This MOU is expected to contribute to balanced regional development.

Daejeon Mayor Lee Jang-woo highlighted the citys rapid transition to an advanced technology-focused industrial structure and expressed confidence that close cooperation with KIPO would accelerate Daejeon’s growth as a global innovation city based on intellectual property.

KIPO Commissioner Kim Wan-ki emphasized the significance of this agreement in fostering communication and cooperation across education and industry sectors aiming to activate the regional economy through intellectual property. He affirmed KIPO’s commitment to supporting Daejeons businesses and citizens in effectively utilizing intellectual property for regional industrial development.

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