By Kim Wan-ki

Drivers instinctively reach for their seat belts, whether they’re off to work in the morning or heading out for a weekend picnic. According to a 2023 traffic culture index survey, seat belt usage in South Korea reached approximately 85 percent, which reflects the belief that seat belts are an essential safety device protecting drivers from potential accidents.

Then, what is the equivalent of a seat belt for export enterprises? How can they safeguard their innovative technologies and products while sustaining growth in a highly competitive global market? In my view, the answer lies in securing intellectual property rights, such as patents and trademarks, in the countries they operate in or plan to enter.

According to the Korea International Trade Association, as of 2022, 43 percent of Korean small and medium-sized enterprises focusing on exports had not obtained or applied for patents. A similar study by the Korean Intellectual Property Office revealed that 69.3 percent of export-oriented SMEs rarely or never prepared for IP disputes, while 73.7 percent lacked IP rights in overseas markets. This shows that many Korean SMEs haven’t taken proactive steps to protect their IP rights.

The business environment poses additional challenges. Over the past five years, KIPO has blocked access to 925,000 online posts selling counterfeit goods and monitored 22,000 overseas brands suspected of imitating Korean enterprises. One pet item company reported that counterfeits appeared on the market just one day after it unveiled new products on social media or YouTube. Without IP protection, an export company is akin to a driver navigating the “highways” of the global market without a seat belt.

Recognizing this, KIPO has established 10 overseas IP offices across eight countries to support overseas expansion and cover expenses for on-site IP applications. In addition, other government bodies, such as the Ministry of Trade, Industry and Energy and the Ministry of SMEs and Startups, are offering voucher programs to help export-focused companies fund their IP applications. By actively engaging with these government initiatives aimed at IP protection and export support, companies can secure their IP rights more efficiently.

Starting next year, KIPO plans to enhance the capabilities of Korean SMEs further to address IP risks, particularly those entering or expanding in export markets. By providing tailored analysis and strategies, KIPO will help the companies handle potential IP disputes beforehand.

I hope Korean export companies can leverage government support to secure IP rights and deal with potential disputes in foreign markets. This will enable them to "drive through" the overseas market with their “IP seat belt” securely fastened.

Kim Wan-ki is the commissioner of the Korean Intellectual Property Office. The views in this column are his own. -- Ed.