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South Korea, Cambodia sign MOU in IP cooperation

14 June 2024

South Korea, Cambodia sign MOU in IP cooperation

The Korean Intellectual Property Office (KIPO) has recently announced that it had inked a memorandum of understanding (MOU) with President Yoon Suk Yeol and Prime Minister Hun Manet of Cambodia on extensive cooperation in the intellectual property sector.

The MOU called for the exchange of trademark data, experiences and know-how in each area, including education and training, IP protection, trademark evaluation and digitization, and education. The MOU also stated that Korea and Cambodia will work together in areas such as trademark review, intellectual property education and IP informatization. Additionally, they will focus on the efficient implementation of IP-related provisions, such as protecting well-known trademarks, after the Regional Comprehensive Economic Partnership (RCEP) comes into effect.

A KIPO representative said: “The MOU is expected to strengthen cooperation between the two countries in the trademark sector in the future. The MOU stipulates the basis for data exchange in the trademark sector, allowing domestic companies to search for Cambodian leading trademarks, which are about 130,000 cases before applying for trademarks in Cambodia.”

For Korea, one of the strategically significant ASEAN nations is Cambodia. Local businesses are aggressively joining the market, concentrating on consumer products like ramen and cosmetics. The average annual growth rate of trademark applications to Cambodia from Korean corporations and other sources was 8.4 percent between 2013 and 2023.

- Excel V. Dyquiangco

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