ULSAN < invest Korea

The Ulsan Chamber of Commerce & Industry noted that the number of applications for intellectual property rights continue to grow for four consecutive years since a comprehensive patent consulting service was introduced in 2009.

According to Statistics Korea, the number of applications for intellectual property rights in Ulsan reached 5,797 last year, showing a 34.4 percent increase from 2011.

This was the highest growth in Korea for two consecutive years following 2011. Ulsan was also ranked 12th among 16 provinces and cities.

Supported by a design value enhancement project introduced last year, number of applications for intellectual property rights for designs reached 485, showing a 35.5 percent growth from last year. This growth was also repeated by regional small- and medium-sized companies (SME).

Applications by Ulsan SMEs showed a growth rate of 22.6 percent last year, and Ulsan ranked fifth among metropolitan cities and ten among 16 cities and provinces.

However, the number of applications reached 878, ranking Ulsan at the 15th.

The Ulsan Chamber of Commerce & Industry increased its budget for domestic and international applications for intellectual property rights by 12.6 percent, however more than 70 percent of total budget already has been utilized.

The chamber has requested budget of KRW 4.2 billion, which increased by 17.1 percent, for 2014 to Ulsan city and the Korean Intellectual Property Office.

To encourage regional companies to apply for their intellectual property rights, the Ulsan Chamber of Commerce & Industry supports related costs. Those interested can contact the Ulsan Property Service Center.

** This article was translated from the Korean.