Korea Intellectual Property Office launches IP investment council with 35 VC firms

The Korea Intellectual Property Office said Wednesday it has launched a consultative council with 35 investment institutions that run funds under the patent account of the government-backed fund of funds, giving intellectual property investors a standing channel into policy making.

The council, which the office calls the IP-VC council, was set up at a ceremony at the El Tower in Yangjae-dong, Seocho District, Seoul. It groups the venture capital firms that manage sub-funds of the Mother Fund's patent account.

The launch follows a June 25 meeting between the office and venture capital managers, who said the absence of a single official communication channel left their views to be gathered piecemeal.

"There was no unified official channel for communication, and opinions were collected only individually, so it was difficult for voices from the field to be reflected in policy," managers who attended that June meeting said.

The council will split into three divisions organized around investment specialties: deals and commercialization, monetization, and startups and regional investment. Proposals for regulatory and institutional changes raised in the division meetings will be reviewed by the intellectual property office together with Korea Venture Investment and reflected in policy, with results reported back to the council.

Participating managers will receive priority in support for the cost of intellectual property valuations linked to their investments, and extra points when applying for the Mother Fund patent account's investment programs. From 2027, the office plans to hold joint investor briefings with the council to help companies with strong patent portfolios find backers.

Kim Il-kyu, director general of the office's intellectual property policy bureau, said the council would serve as a forum for listening to investors and overhauling the system.

"The launch of this council will be a place of communication where we listen carefully to the voices of the intellectual property investment field and innovate the system," Kim said. "We will not spare policy support so that a private-sector-led intellectual property investment ecosystem can take firmer root."