Navigating the IP Landscape: Key Considerations for Korean Companies Exporting to Vietnam
Korean Investment in Vietnam
According to the latest statistics released by the Ministry of Planning and Investment of Vietnam in 2022, Korea is the largest foreign investor in Vietnam with a staggering investment capital of over 80 billion USD and close to 9,500 registered projects.
Prioritizing IPR protection
With the large-scale investment and business activities of Korean companies in Vietnam, IPR protection has always been attached great importance and regarded as a priority by Korean government agencies in the context where intellectual property asset is the lifeblood of enterprises, while the acts of IPR infringement and theft are becoming more rampant and sophisticated. Ensuring legal safety and promoting the protection of IPRs serves as an important basis to safeguard Korean companies’ interests in Vietnam and prevent any potential loss or damage caused by intellectual property theft and infringement.
Seminar in Korea
Mr. Nguyen Vu Quan, an Intellectual Property Attorney at KENFOX IP & Law Office, was invited to attend a seminar hosted by the Korea International Trade Association (KITA) and the Korea Medical Equipment Industry Association (KMDIA). The seminar was attended by over 100 Korean companies in various industries such as medical equipment, cosmetics, fashion, and agriculture, as well as representatives from KITA and KMDIA. During the seminar, Mr. Quan delivered a presentation entitled “Strategies for Protecting Intellectual Property Rights for Korean Exporters in Vietnam“. In his presentation, Mr. Quan highlighted typical cases of intellectual property rights infringement experienced by Korean rights holders in Vietnam, and identified the underlying causes of this problem. He also discussed the current challenges associated with IPR infringement in Vietnam. Building on this foundation, Mr. Quan analyzed the legal pathways available to respond to IPR infringements in Vietnam and provided important recommendations for Korean businesses on how to protect their intellectual property rights in the Vietnamese market.
One effective way to protect IPRs is through strategic planning and execution of IPR protection measures. This may include registering trademarks, industrial designs, copyright and patents, implementing confidentiality and non-disclosure agreements, monitoring and enforcing IPRs, and seeking legal remedies in case of infringement. Another essential factor for Korean businesses in Vietnam is to stay up-to-date with the local laws and regulations governing IPRs. This can help them navigate the legal framework and ensure compliance with the regulations in Vietnam, thus avoiding any legal disputes and penalties.
Mr. Quan further shared that during his work, that he had direct involvement in a project funded by the Korean government, which was requested by KOTRA. Specifically, he conducted a thorough investigation into the IPR infringement of Korean enterprises in 05 provinces in Vietnam, namely, Lang Son, Lao Cai, Quang Ninh, Hai Phong and Hanoi. Based on his findings, Mr. Quan provided KOTRA with a comprehensive report that included detailed analysis and recommendations on how to effectively protect the intellectual property of Korean enterprises in Vietnam. Mr. Quan provided valuable insights into the practical steps that Korean businesses can take to protect their intellectual property rights in Vietnam.
Official advisor of KMDIA:
Recognizing and appreciating the contributions of Mr. Quan and the KENFOX IP & Law Office, KMDIA has invited him to be KMDIA’s official advisor for Korean businesses in Vietnam. As part of this role, Mr. Quan is scheduled to participate in the K-Medi Expo event in Ho Chi Minh City in June 2023. During the event, Mr. Quan will deliver a presentation to over 100 Korean businesses who will be in attendance. Through his presentation, Mr. Quan will provide insights and recommendations on how Korean businesses can protect their intellectual property rights in Vietnam and operate more effectively in the market.
Mr. Quan believes that IPR holders who conduct business activities in Vietnam not only need to address any immediate incidents, but also require a strategic partner who possesses a deep understanding of the legal environment in Vietnam and has extensive experience in dealing with complex situations. KENFOX’s team takes pride in having successfully handled numerous large-scale, complex, and sophisticated IP infringement cases, which have contributed to the success of IPR holders in their investment and business activities in Vietnam.
Presented below are a selection of photographs and videos showcasing our collaboration with KMDIA and the workshop activities: