Hong Kong and South Korea’s intellectual property offices have signed a deal allowing them to collaborate more on IP issues, including the exchange of information.

Ada Leung, director of IP at the Hong Kong Intellectual Property Department (HKIPD), and Kim Young-min, commissioner of the Korean Intellectual Property Office,signed the memorandum of understanding (MOU) on January 29. 

The deal will also allow the offices to co-operate on promoting the commercialisation of IP.

Gregory So, Hong Kong’s secretary for commerce and economic development, said the MOU was signed because there has been a “surge in recent years in global and regional demand for IP” in Asia.

“It requires effective international co-operation among policy makers, businesses and researches to grasp the opportunities as well as rise up to challenges,” he added.

“With strong support from this government and industry business sectors of both places, I am confident that this collaboration will inspire more joint IP undertakings in future and drive the growth of IP trading in Hong Kong and South Korea,” he said.

In May, the HKIPD signed an MOU with the International Trademark Association to help better organise events on trademark rights.