South Korea announces harsher damages for IP infringement
South Korea is to impose harsher punishments for intentional patent and trade secrets infringement in a bid to strengthen its IP regime.
The announcement was made by the Korean Intellectual Property Office (KIPO) last Monday, December 10.
Following the passing of legislative amendments by the Korean parliament, the “punitive damages system” is to be implemented in June.
The Korea Herald reported that the National Assembly has approved amendments to the Patent Act, and the Unfair Competition Prevention and Trade Secrets Protection Act.
Under the revised laws, those who knowingly infringe another party’s trade secrets or protected patents will be liable for up to three times the amount determined as damages.
According to KIPO’s statement, the average value of damages awarded in patent infringement cases in South Korea is 60 million won (US$ 53,122). KIPO said that this was an insufficient disincentive from knowingly infringing another party’s IP.
The Korea Herald reported that the revised laws will also shift the burden of proof in disputes away from IP owners.
Park Won-joo, commissioner of KIPO, commented that the legislative amendments will strengthen Korea’s IP protection regime.
Earlier this year, WIPR interviewed Sung Yungmo, who was KIPO commissioner at the time, on the office’s efforts to keep pace with the ‘Fourth Industrial Revolution’.
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