Quasi-simultaneous Patent Registration Adopted by South Korea and Laos

The Korean Intellectual Property Office and the Department of Intellectual Property of Laos have signed a memorandum of understanding so that patent registration in South Korea can have the same effect in Laos starting from July 1.

Specifically, patent examination in Laos will be replaced with simple document submission and registration in Laos will be completed within six months from the submission in the case of patents already registered in South Korea.

The Korean Intellectual Property Office signed a similar agreement with Cambodia in August last year and the agreement became effective in November last year. Laos is the second country where the automatic patent registration is in effect.

South Korean companies wishing to enter Laos are expected to benefit from the automatic registration. Laos is a very young country where economically active people account for more than 60 percent of the total population. The country has shown an annual economic growth of over 6 percent for the past three years and South Korean companies’ average annual investment in Laos rose to about US$100 million in that period.