SEOUL, July 27 (Korea Bizwire) — South Korea’s top tech giant Samsung Electronics Co. will open another batch of royalty-free technologies in line with the government’s efforts to promote shared growth among conglomerates and small and medium-sized firms, the industry ministry said Tuesday.
Under the move, the world’s top memory chip maker will allow 99 businesses to use its 172 cases of patents without paying royalties. The latest step will raise the number of patents shared by Samsung since 2015 to a whopping 784.
Since 2013, South Korea has been operating a program that centers on inducing large companies to share technologies with small companies.
“The latest move will help small firms overcome business challenges sparked by the COVID-19 pandemic,” the Ministry of Trade, Industry and Energy said in a statement.
Earlier this year, SK Group, with affiliates including No. 2 chipmaker SK hynix Inc., also shared 75 different technologies with 53 smaller businesses under the program.