South Korea’s intellectual property surplus hit a new record high in the first half of this year due to a lower deficit in industrial property rights, central bank data showed Friday.
Trade in intellectual property rights reached a record surplus of 370 million U.S. dollars in the January-June period, topping the previous high of 350 million dollars in the second half of 2019, according to the Bank of Korea (BOK).
Deficit in the trade of industrial property rights, including patents, came to 370 million dollars in the first half, down from a deficit of 1.21 billion dollars in the second half of last year.
Trade in patent and utility model rights logged a deficit of 110 million dollars, but the design rights trade registered a surplus of 60 million dollars.
The trademark and franchise rights deficit reduced to 320 million dollars in the first half from 640 million dollars in the previous six-month period.
Surplus in trade of copyrights declined from 1.41 billion dollars in the second half of last year to 870 million dollars in the first half of this year.
The culture and arts copyrights and the research & development and software copyrights recorded surplus of 380 million dollars and 490 million dollars each.
By industry, manufacturers tallied a surplus of 650 million dollars in the intellectual property rights trade, while the services companies posted a deficit of 330 million dollars in the first half.