Growing imperative to secure patent rights in Korean Semiconductor Equipment Industry
Semiconductor Equipment and Materials International (SEMI) reported a temporary decrease of approximately 6% in global semiconductor equipment sales in 2023 compared to the previous year. However, the sales are projected to rebound to $105.3 billion in 2024 and increase further to $124 billion in 2025. SEMI also anticipates that by 2025, Korea will be among the top three consuming countries for semiconductor equipment sales, alongside China and Taiwan.
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War on Technology Leakage Crime
In recent times, crimes related to the technology leakage in key high-tech sectors like semiconductors, displays, secondary batteries and biotechnology have become a pressing concern in Korea. The National Intelligence Service (NIS) in Korea reported 552 cases of the technology leakage crimes abroad from 2003 to July 2023, resulting in estimated damages exceeding KRW 100 trillion (USD 72.6 billion). Particularly concerning is the sharp increase in cases involving critical national technologies, with 96 incidents recorded in the last five years (from 2019 to 2023).
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New Provisions in Invention Promotion Act to Empower Employee Inventions
The Invention Promotion Act revised on February 6, 2024 introduced provisions for “Automatic Succession of Employee Invention to Employer” and “Material Submission Order and Confidentiality Order.” Previously, employees were required to notify their employers upon completing an invention for the employer to proceed with the succession process. This placed an administrative burden on the employers of being notified of all employee inventions, decide on succession, and inform employees of the succession decisions in writing. Moreover, there was a risk of dual transfer if employees transferred their inventions to a third party before formal succession by the employer.
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Changes to Expedited Examination Procedures for Trademarks at KIPO
From January 1, 2024, the Korean Intellectual Property Office (KIPO) ceased accepting expedited examination based on a prior art search conducted by a KIPO designated search institution for trademark applications as well as patent and design applications. While the Patent Prosecution Highway (PPH) remains an option to expedite patent examination, expedited examination based on alternative criteria, including use-based expedited examination, is still available for trademarks.
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Enhanced Expertise in IPTAB Trials
The Intellectual Property Trial and Appeal Board (IPTAB) of the Korean Intellectual Property Office (KIPO) announced improvements to the patent trials on March 5, 2024. These include (1) expanding the high-tech trial division and (2) introducing a trial reference system, aiming to facilitate faster and fairer trial administration services.
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Lee International, Launching a new Trademark and Design Monitoring Center
Lee International is set to launch a Trademark and Design Monitoring Center (TDMC) in 2024, dedicated to safeguarding the trademark and design rights of our esteemed international clients. Until now, Lee International has focused on ensuring the registration and complete protection of clients' trademarks and designs in Korea. The establishment of the TDMC aims to enhance the level of service, with a particular focus on eliminating imitation trademarks and more effectively preserving the reputation and value of clients' trademark and design rights.
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Lee International's Contributions
ICLG.com is a leading global platform for legal reference, analysis and news, offering comprehensive comparative legal guides and research tools that cover more than 100 jurisdictions across 58 practice areas. LEE has made contributions to the Korean chapter of Trade Mark Laws and Regulations 2024 on ICLG.com. This edition delves into key topics in trademark laws and regulations, including legislation, application procedures, refusal grounds, opposition processes and registrations in Korea.
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