KISTA

Korea ranked top among the OECD member countries in terms of R&D expenditure as a proportion of Gross Domestic Product(GDP), and took forth
place in the annual number of PCT patent applications in 2021. fourth for the annual number of patent application in the world.

However, despite such quantitative growth, the research productivity and patent utilization rate of Korea still remained rather low. Korean companies
often suffer from patent lawsuits filed against them when entering overseas markets. Since 2010, KISTA has been supporting R&D strategies focused
on IP for companies, universities and public research institutions with the goal of achieving qualitative as well as quantitative growth of patents and
R&D in Korea.

Through hard work we have been improving our position as an institution specialized in the IP sector. As a result, we have been designated as a
‘Patent Management Agency for Government R&D Patents Performance’ in 2010, as a ‘Technology Evaluation Agency’ in 2011, and an ‘Institution
for Examination of Industrial Property Rights’ in 2013.

Importantly, KISTA formulates and helps implement national IP strategies, supports the alignment of IP-R&D strategies for private and public entities,
helps with the acquisition and management of patents, stimulates the trading and exchange of IP, assists with the fundamental utilization of IP, and
provides various other practical support. We are also continuously developing methodologies to foster IP strategy experts proficient in both R&D
and IP who will develop and execute corporate and national IP strategies.

Efforts by KISTA to reinforce Korea’s intellectual property competitiveness have born fruit as can be seen by the savings in government R&D
expenditure and substantial economic benefits. KISTA promises to fulfill its responsibilities as a specialized institution of intellectual property
strategy leading Korea’s R&D competitiveness.