South Korea: FTC overhauls priorities with IP focus

South Korea’s Fair Trade Commission is looking to overhaul the way it operates, according to reports, as it shifts its focus to crack down on patent right abuse.

With revamped efforts to promote fair trade between the nation’s small and large businesses, the FTC is also reportedly looking to protect competition in the electronics industry.

”Patents are an important device, a fair reward for the invention and a continuous driver of innovation,” FTC Vice Chairman Kim Hak-hyun said at a forum held Tuesday. “But abuse or exclusive exercise of the rights can limit competition.”

Among the regulator’s main concerns include patent holders’ refusal to license their patents under FRAND terms, as well as so-called patent trolls, or non-practicing entities.

It’s part of the FTC looking to expand its services, according to reports. “The Fair Trade Commission, contrary to other competition authorities abroad, is playing various roles,” Hak-hyn said.

Full Content: Korea Times

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