S.Korea's Intellectual Property Rights Post Lowest Deficit in Q1

Sep.5 (Xinhua) -- South Korea's trade balance in intellectual property rights posted the lowest deficit in the first quarter since relevant data began to be compiled in 2010, central bank data showed on Wednesday.

Trade balance in intellectual property rights, including patent, model utility right, trademark, franchise right and design right as well as copyright, was a deficit of 784.4 million U.S. dollars in the January-March period, according to the Bank of Korea (BOK).

It was 60.1 percent lower than the same period of last year, marking the lowest since 2010 when the BOK began to compile the data. The previous low was a deficit of 1.18 billion dollars tallied in the first quarter of 2011.

The country stayed in a chronic deficit in intellectual property rights, but the deficit size has reduced due to developed technologies.

Exports of intellectual property rights reached a record high of 2.8 billion dollars in the first quarter, while its imports tumbled 20.6 percent from a year earlier to 3.58 billion dollars.

In trade of intellectual property rights with the United States and Japan, South Korea posted deficits of 1.03 billion dollars and 164.3 million dollars respectively in the quarter. The deficit from Germany was 73.8 million dollars.

South Korea posted a surplus of 339.4 million dollars with France as Hanmi Pharmaceutical, local drug manufacturer, succeeded in exporting an innovative drug technology to a French drug maker.