Tag Archives: South Korea

Some Important Recent Developments Make Korea Friendlier to Foreign Companies Utilizing the Korean Patent System

 

Korean Court Makes Efforts to Create a More Patent-Friendly Environment.

Although Korea has been very active in the development of intellectual property, Korea has a reputation for being relatively unfriendly to foreigners utilizing the Korean patent system. Korean courts have been trying to rectify this situation by changing the environment for patent protection and patent litigation.  Specifically, they have implemented an improved discovery process and they have established international panels that will provide more foreigner-friendly patent litigation procedures.

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Establishment of Korea’s International Court for International IP Cases

 

 

 

 

 

IP cases, by their nature, proceed in more than one country simultaneously.  For instance, the patent lawsuits between Samsung and Apple have occurred at the same time in the courts of more than 10 different countries including Korea, the U.S., Germany, Japan, the Netherlands and Australia.  Because these cases are proceeding simultaneously, IP right holders are often placed in a situation where they have to determine in which country to file their claims, in order to yield the most favorable results. In this regard, courts all around the world attempt proactively to invite IP lawsuits and have been making efforts to provide environments that are suitable for IP litigation on a global scale.

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ILN Today Post

Is the U.S.-Korea Trade Deal Headed for Trouble?

On June 30, 2007, the United States signed a historic free trade agreement with South Korea.[1] The Korea-United States Free Trade Agreement (“KORUS”), like most FTAs in which the U.S. is engaged, eliminates “tariffs and non-tariff barriers to trade in goods and services” between the two countries in an effort to enhance trade and promote economic growth.[2] In 2006, just before the deal was made, U.S. exports to South Korea totaled over $32.5 billion, making South Korea the U.S.’s seventh largest trading partner.[3]Among its other provisions, KORUS sought to grow the relationship between the U.S. and South Korea with regards to the export of U.S. autos, pharmaceuticals, machinery, IP, and agriculture.

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ILN Today Post

ASEAN TODAY – REGIONAL LEGAL AND BUSINESS NEWS – JANUARY 2017

ASEAN Economic Community News

Chiang Mai Initiative
The ASEAN member countries and Japan, China, and South Korea (ASEAN+3) plan to expand the Chiang Mai Initiative, an emergency multilateral currency swap arrangement that helps manage regional short-term liquidity problems and prevent another currency crisis. Currently, the overall pool is US$240 billion, but only 30%, US$72 billion, can be authorized for release under ASEAN+3’s authority. ASEAN+3 wants to move this amount to 40%, a US$24 billion increase.

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