Korea Intellectual Property Office holds counterfeit goods summit at National Assembly

The Korea Intellectual Property Office and Rep. Oh Se-hee of the Democratic Party will hold a seminar at the National Assembly on Wednesday to discuss countermeasures against the rising distribution of counterfeit goods.

Global distribution of fake K-brands is estimated at 11 trillion won ($8.13 billion), causing annual sales losses of 7 trillion won ($5.17 billion) for domestic firms and eliminating approximately 14,000 manufacturing jobs, according to 2024 OECD data.

Concerns regarding consumer safety have intensified following investigations into counterfeit cosmetics. A survey found that 32.4 percent contained harmful substances such as methanol and lead exceeding safety standards.

The seminar will feature presentations on counterfeit distribution and blocking technologies by the Korea Minting and Security Printing Corporation. Trademark owners, online trading platform representatives and academic experts will then discuss collaborative strategies to halt the flow of illegal goods.

A concurrent exhibition will display over 200 genuine and counterfeit K-brand items to demonstrate the increasing sophistication of fakes. The event will also introduce anti-counterfeiting technologies such as holograms and authentication marks.

"Counterfeit goods are a problem that undermines the trust and value of K-brands that our companies have built up over a long time in the global market," Oh said. "Through this seminar and exhibition, we will carefully examine the necessary systems and policies to block counterfeit goods so that our companies can advance overseas with peace of mind."

Jeong Yeon-woo, vice minister of the Korea Intellectual Property Office, noted that the popularity of K-brands has inevitably attracted more counterfeiters. "We will work with the National Assembly and businesses to thoroughly block these goods from the distribution stage and respond until the end so that the value of trademarks created by our companies is not damaged," Jeong said.