The rise of the information age, driven by a knowledge-based society, and globalization of the marketplace has necessitated the need for IPRs. Without intellectual property protection, incentives to engage in certain types of creative endeavors would ...
The rise of the information age, driven by a knowledge-based society, and globalization of the marketplace has necessitated the need for IPRs. Without intellectual property protection, incentives to engage in certain types of creative endeavors would be weakened. With the trade conflict with advanced countries including the United States, South Korea’s concern for intellectual property policy has been stimulated while increase in international economic activities and demand for domestic industry protection has created an encouraging environment for protection of intellectual property rights in South Korea. Although South Korea has tried to promote IPR protection, South Korea still suffers from international criticism on its lack of commitment to international IPR standards. Under the American influence, the World Trade Organization Agreement on Trade Related Aspects of Intellectual Property Rights established basic standards of intellectual property protection. The TRIPs Agreement has been and continues to impact on IPR not only in international arena, but also in South Korea. This article reviews the effect of TRIPs Agreement and IP protection problems in South Korea, and proposes possible solutions to solve those problems. In detail, chapter II overviews WTO’s TRIPs Agreement. Chapter III explores intellectual property law and policies in South Korea, and then addresses primary problems of IP protection in South Korea. Chapter IV suggested possible solutions in order for intellectual property to be beneficial for economic development of South Korea. Lastly, chapter V concludes based on the above discussion. To solve IP protection problems in South Korea, the TRIPs Agreement alone is not enough source to force it. The United States and other advanced nations should help Korean government to educate Korean society about the significance of intellectual property protection. In addition, the government of South Korea must establish adequate system to effectively prevent IP violation, and revise laws in compliance with international standards, including the standards set the TRIPs Agreement. Ultimately, sufficient and skillful management for the protection of IPRs would promote international trade and play the positive role in economic growth.