May 31, 2024
KIPO signed MoU with Cambodian Ministry of Commerce at Bilateral Summit Meeting
On May 17, 2024, KIPO and the Cambodian Ministry of Commerce signed the Memorandum of Understanding on Reinforced Intellectual Property Cooperation at the presence of two national leaders who held the Korea-Cambodia Summit meeting the same day.
Cambodia is one of the ASEAN states with a huge strategic importance to Korea. A sound demand from the consumers in Cambodia for K-beauty cosmetics or Korean ramens also provides sound business opportunities to many Korean companies wishing export their products. Over the past ten years from 2013 to 2023, Korean companies' trademark filing to the Cambodian authorities has shown a steadfast average annual growth rate of 8.4 %.
Considering the increasing need for closer cooperation between the two organizations, KIPO and the Commerce Ministry of Cambodia agreed to enhance their collaboration in several areas.
The Memorandum in particular provides for the Ministry's provision of large-scale trademark data to KIPO, which will enable Korean applicants to be able to access and search 130,000 registered trademarks in Cambodia before filing their applications. Based on the Memorandum, KIPO and Cambodian Ministry will work together to assist an effective implementation of IP-related international agreements including the Regional Comprehensive Economic Partnership, promote efficiency in trademark examination, conducting professional IP education and training and so on.
Celebrating the milestone achieved, KIPO added it will make continued efforts to help Korean applicants better protect their valuable ideas and rights at home and abroad, by maintaining close partnership with foreign IP offices around the world.