S. Korea's trade deficit in intellectual property rights narrows on-year in H1
- 4 years ago
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South Korea's deficit in the trade of intellectual property narrowed in the first half of this year thanks K-pop and K-dramas which posted an 80- million dollar surplus, a first surplus in the arts and culture sector since figures were first compiled in 2017.
According to the Bank of Korea, the country's deficit in intellectual property came to 750 million U.S. dollars in the January to June period, a decline from the $880 million dollars recorded a year earlier.
The central bank explained that conglomerates did not need to use as many patents from abroad because they were producing fewer products due to the pandemic.
South Korea's deficit in the trade of intellectual property narrowed in the first half of this year thanks K-pop and K-dramas which posted an 80- million dollar surplus, a first surplus in the arts and culture sector since figures were first compiled in 2017.
According to the Bank of Korea, the country's deficit in intellectual property came to 750 million U.S. dollars in the January to June period, a decline from the $880 million dollars recorded a year earlier.
The central bank explained that conglomerates did not need to use as many patents from abroad because they were producing fewer products due to the pandemic.