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S. Korea’s intellectual property trade deficit narrows in Q1

[THE INVESTOR] South Korea trade deficit from intellectual property rights came to US$780 million in the first quarter of the year, down US$410 million from the previous quarter, Bank of Korea announced Aug. 24.

The central bank’s tentative intellectual property trade balance showed that South Korean exports came to US$2.8 billion, while imports came to US$3.58 billion in the first three months of the year.

By category, deficits regarding patents and utility model were the highest at US$630 million, followed by brand and franchise rights at US$170 million.

Large companies and small and medium-sized enterprises with foreign investment contributed the most to the deficit, with the figure for the former coming to US$890 million and the latter to US$540 million.

South Korean SMEs and middling companies, however, showed a combined surplus of US$630 million. By industry, the manufacturing sector ran up the highest deficit at US$650 million, while the service industry worked up a deficit of US$170 million.

By Choi He-suk (cheesuk@heraldcorp.com)
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