- Why KOREA
- Biz-friendly Environment
Seamless and Affordable Electric Supply
According to the World Bank’s Doing Business 2019 report, Korea ranked 2nd in the category of Getting Electricity. The result highlights that electricity is supplied through a fast and simple process at an affordable price.
International Energy Agency (IEA) said Korea’s average cost of utilities per person (tax included: 8.02pence/ KWh) is the lowest of 28 OECD members as of 2019. Energy prices in Korea remains merely half the OECD average and 30% of that in Germany (tax included: 26.17 pence/ KWh) which tops in the global energy price index.
※ Source: IEA <Domestic Electricity Prices in the IEA 2020>
Comparison of Electrical Service
※ Source: World Bank Group <Doing Business 2019 Report>
Stable Water Supply
Korea has developed infrastructure capable of providing a stable supply of water. Furthermore, Korea’s water utility bills are considerably lower than major cities around the world, such as New York, London, and Tokyo.
※ Source: OECD <Environment at a Glance 2015>
Active Application for Intellectual Property Rights
The number of applications for intellectual property rights in Korea is the 4th largest in the world, following China, the US, and Japan, and Korea ranks 5th in the world in Patent Cooperation Treaty (PCT) patent applications. In addition, Resident patent applications filed per GDP, far outdistancing other leading countries, showing Korea’s excellence in application for intellectual property rights.
Industrial Property Rights Applications from Major Countries
(2018, Unit: case)
PCT International Patent Applications from Major Countries
(2019, Unit: case)
Resident Patent Applications Filed per GDP
(2019, Unit: USD 100 billion)
※ Source: World Intellectual Property Organization (WIPO), Korea Intellectual Property Office (KIPO), World Intellectual Property Organization (WIPO) (March 2020), World Intellectual Property Organization (WIPO), World Bank (August 2019)
The speed of its patent process is one of Korea’s strengths in this area. The examination and processing period for patent and utility model registry in Korea is shorter than in the US (16.3 months) and similar to Japan (10.4 months).
(Unit : per month)
|Status||Patent and Utility Model Registry||Trademark Model Registry||Design Model Registry|
※ Source: World Intellectual Property Organization (WPO) <World Intellectual Property Indicators>, Korean Intellectual Property Office