Samsung to share its royalty-free tech patents with smaller firms in South Korea

Samsung Electronics plans to share its royalty-free technology patents with smaller companies for free in South Korea. The move was aimed at stimulating shared growth, according to South Korea’s Industry Ministry. Smaller firms will use Samsung’s royalty-free 123 patent technologies which are spread across various sectors.

The 123 patents relate to semiconductors, displays, mobile devices, and allied aspects. The move will allow smaller firms to leverage these technologies in the evolution of their products. According to a report by the Ministry of Trade, Industry, and Energy, up to 86 smaller firms in South Korea will benefit from the Samsung initiative. It is part of a government-driven tech-sharing program in place since 2013.

Over 33 South Korean conglomerates and state-run companies have shared 2,979 patents with 1,416 smaller companies. Since Samsung joined the program in 2015, it has shared 1,082 patents with 588 smaller companies.

Samsung had recently signed a memorandum of understanding (MOU) with South Korea’s Ministry of Trade, Industry and Energy and the Korea Institute for Advancement of Technology. The MOU seeks to promote a win-win scenario for the industry ecosystem through technology sharing.

Samsung says the program will give smaller companies the opportunity of upgrading their technology competitiveness. The quantum of support offered by Samsung to the smaller companies seeking the 123 Samsung patent technologies was however not specified.

The synergy and cooperation between tech powerhouses like Samsung and local companies offer a positive spin on the overall outlook of the industry. The policy thrust driven by the Korean Industry Ministry will help some of these local startups scale up their strategy and transit into the global arena.

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