The Korea Institute of Intellectual Property (KIIP) has released a study verifying the positive impact of intellectual property rights (IPRs) on the Korean economy, titled Analysis on Economic Contribution of IP-Intensive Industries. Conducting IP studies was a key recommendation made in the ECCK White Paper 2018, and we believe the study will serve as a useful tool to cultivate a more IP-friendly environment to the benefit of the Korean economy, as has been the case in Europe, where the EUIPO has conducted studies to this effect before. Key findings in this report reveal that IP-intensive industries added a total value of 560 trillion won (EUR 436 billion) to Korea’s GDP, accounting for 43.1% of Korea’s total GDP in 2015. It is noteworthy that 6.07 million jobs were generated by IPR-intensive industries, accounting for 29.1% of the entire Korean employment in 2015. Furthermore, IPR-intensive industries paid higher wages, with employees receiving a wage premium of 51.1% compared to non-IPR intensive industries. In terms of R&D investment, IPR-intensive industries spent KRW 24 trillion (EUR 18 billion), 77.9% of Korea’s total R&D. Overall, the findings provide a quantitative confirmation of the importance of IPRs in boosting economic performance, supporting job creation and innovation at industry level. You can check an English summary of the report HERE.