A new forum for cooperation on intellectual property rights (IPRs) between Korea and China has opened after the Korean Intellectual Property Office (KIPO) signed a memorandum of understanding (MOU) with the State Intellectual Property Office (SIPO) of China during the 19th heads meeting held in Beijing on December 9. The two countries have held the meeting almost every year since 1992, but this is the first time they have signed an MOU on comprehensive bilateral cooperation.

The MOU was signed as a follow-up measure to President Park Geun-hye’s visit to China for a summit meeting in June. President Park issued a joint declaration with President Xi Jinping of China agreeing to expand bilateral exchanges and cooperation in IPRs.

The signing of the MOU will provide a new opportunity for Korea and China to cooperate in the IPR field. The MOU includes new areas beyond the existing cooperation, including the commercial use of IPRs—such as IPR transactions and finance—for which both countries have shown an active interest.

In addition, the MOU includes provisions to improve bilateral communication on international issues and to enhance overall cooperation on global IPR issues.

The two countries also signed MOUs to extend work-sharing through the Patent Prosecution Highway and for e-exchanges of priority documents.

Meanwhile, KIPO Commissioner Kim Young-min gave a special lecture on the theme of the “Creative Economy and Korea’s IPRs” at Renmin University in China on December 9. Kim used the opportunity to expound on the idea of a creative economy to Chinese students, building upon his efforts to spread the importance of an IP-based creative economy to the Korean business community, academia and the wider public.

Kim explained the idea of a creative economy through easy-to-understand case studies and emphasized that creative ideas and dreams are important for Chinese students, which received a favorable response.