Just yesterday we published a report titled "New York State Joins Congress and Tech Companies like Apple in Waging War against Patent Trolls." Today, Korea's Fair Trade Commission, the nation's regulatory authority for fair competition, stated that it would draw up measures and revise patent-related laws to protect domestic tech companies from an increasing number of abusive practices by Non-Practicing Entities (NPEs) or patent trolls.
The country's toughened stance follows a global move against NPEs whose only purpose is to seek profit through patent infringement lawsuits against global tech giants.
The report further noted that NPEs, which purchase and hold as many patents as they can, usually have no intention to further develop or license technologies, but target and accuse tech companies of infringement to enforce patent rights through litigation.
Following the U.S. Innovation Act last year, the antitrust agency aims to come up with stronger measures within the first half of this year as FTC chief Noh Dae-lae called for increased protection against patent trolls in the information, communication and technology sector.
"The importance of regulations against abusive practices concerning patents is increasing as the ICT sector is engaged in fierce technological competition globally," said Noh in a meeting with the state-run Korea Development Institute, adding that "This calls for stronger measures and improvement in guidelines governing intellectual property."
The FTC chairman has called on the KDI to collaborate and seek ways to devise effective measures to counter patent trolls whose motive is to hinder competition and technological development.
The report later added that tech giants such as Apple, Google and Samsung have been among the top targets of patent trolls over the past years as our recent report on the subject proves out.
An opposing view surprisingly came from The Korea Intellectual Property Protection Association whereby they stated that excessive regulations could create side effects in Korea as they could slow technology inventions.