Korea will now participate in funding many of the leading projects that are undertaken by the World Intellectual Property Organization (WIPO).
The Ministry of Culture, Sports and Tourism (MCST) signed an MOU with the intellectual property-related body on May 7, agreeing to donate funds-in-trust (FIT) and to help boost respect for copyrights and related intellectual property rights (IPR).
With the signing, the MCST will now provide funds to the Building Respect for Intellectual Property division of the WIPO starting in July. In turn, the unit will take advantage of the Korean FIT scheme to carry out an array of projects to improve the system of judicial protection of intellectual property rights.
The new agreement is part of efforts to fund programs specialized in the system of judicial protection of IPR in other countries, especially those that have had a constant inflow of content related to things Korean. This is an effort to prevent any sort of copyright infringement in the digital age.
WIPO Director General Francis Gurry expressed his gratitude for Korea’s FIT arrangement and vowed that his organization would continue to work with the Korean government to retain the existing close cooperation and to carry out related projects in an effective manner.
The MCST has been providing trust funds to the WIPO since 2006 to help the organization carry out its goals to further improve the copyright environment.
The WIPO is a specialized agency of the United Nations and leads the development of international standards and norms concerning intellectual property around the world. It currently has 187 member-states.
By Sohn JiAe
Korea.net Staff Writer
jiae5853@korea.kr
The Ministry of Culture, Sports and Tourism (MCST) signed an MOU with the intellectual property-related body on May 7, agreeing to donate funds-in-trust (FIT) and to help boost respect for copyrights and related intellectual property rights (IPR).
Representative Hwang So-hyun from the MCST (left) and WIPO Director General Francis Gurry exchange an MOU outlining Korea’s new funds-in-trust agreement on May 2 at WIPO headquarters in Geneva, Switzerland.
With the signing, the MCST will now provide funds to the Building Respect for Intellectual Property division of the WIPO starting in July. In turn, the unit will take advantage of the Korean FIT scheme to carry out an array of projects to improve the system of judicial protection of intellectual property rights.
The new agreement is part of efforts to fund programs specialized in the system of judicial protection of IPR in other countries, especially those that have had a constant inflow of content related to things Korean. This is an effort to prevent any sort of copyright infringement in the digital age.
The World Intellectual Property Organization (WIPO) leads the development of a balanced and effective international intellectual property system. (captured image of the front page of the WIPO website)
WIPO Director General Francis Gurry expressed his gratitude for Korea’s FIT arrangement and vowed that his organization would continue to work with the Korean government to retain the existing close cooperation and to carry out related projects in an effective manner.
The MCST has been providing trust funds to the WIPO since 2006 to help the organization carry out its goals to further improve the copyright environment.
The Korean delegation and WIPO Director General Francis Gurry (third from right) pose after the signing of an MOU concerning Korea’s funds-in-trust agreement on May 2.
The WIPO is a specialized agency of the United Nations and leads the development of international standards and norms concerning intellectual property around the world. It currently has 187 member-states.
By Sohn JiAe
Korea.net Staff Writer
jiae5853@korea.kr
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