IP Bank Platform to Go Online in 2nd Quarter of 2022
The Ministry of Trade, Industry and Energy and the Ministry of SMEs and Startups announced that their IP Bank platform will be put into operation in the second quarter of next year after a platform operator selection procedure scheduled to start next month.
The platform is to discover and develop semiconductor intellectual properties and help fabless companies get easier access to advanced intellectual properties in the semiconductor industry.
Semiconductor intellectual properties are indispensable during product design at fabless companies. At present, South Korean fabless companies are highly dependent on foreign properties, which are very expensive in many cases, and domestic properties are less competitive. Besides, infrastructure for intellectual property distribution is not enough in South Korea.
On the other hand, a number of intellectual property transaction platforms are already in operation abroad. For example, France’s Design and Reuse was set up in 1997 and it currently has more than 400 members providing intellectual properties. More than 16,000 core intellectual properties are available there and its monthly visitor count is over 70,000.