Korean Gov. Fully Support Foreigners' Start-up Business, From IPR Education to Visa Applications, in Korea Via OASIS

SEOUL, South Korea, July 23, 2015 /PRNewswire/ -- The KIPA (Chairman: Christopher Koo) announced the implementation of the "Education for Knowledge of Intellectual Property" and the "Project for Intellectual Property Application Support and Prototype Production Support" programs as part of the OASIS system.

The OASIS project, which is enforced by the Department of Justice and the Small and Medium Business Administration, and operated by 5 institutions designated as "Global Start-up Immigration Centers" (KIPA, Korea Immigration Service Foundation, Seoul Global Center, Korea Techno Venture Foundation and Gwangju Institute of Science and Technology), is a system to help foreigners establish start-up companies in Korea based on their intellectual properties.

The OASIS system includes training and acquisition of intellectual property ownership and support for the entire start-up process from technological start-up visas and incorporation to the actual commercialization of the venture.

Last year, 126 foreigners participated in the pilot project, and 5 of them have obtained start-up visas (D-8-4). The full-fledged OASIS project has been further promoted and 132 foreigners have joined this year.

In order to obtain a start-up visa (D-8-4), the applicant is required to have basic qualifications, such as a bachelor's degree and corporation establishment, and earn 80 points or more out of a total of 360 points, given according to items such as completion of specific OASIS courses, possession of intellectual property ownership, a visa, capital stocks, Korean language skills and others.

Among the specific OASIS courses, Basic Intellectual Property Course (OASIS-1) and Advanced Intellectual Property Course (OASIS-2) open 19 times a year in cities including Seoul, Bucheon, Suwon, Daejeon, Gwangju and Busan, and 15 points to 25 points can be earned respectively upon completion of each course.

Intellectual Property Application Support and Prototype Production Support (OASIS-3) accepts applications until August 10th. When selected for the intellectual property application support, the applicant will get some help to apply for intellectual property ownership such as a patent, utility model and design. And when selected for prototype production support, the applicant will receive support for the commercialization of products such as prototype manufacturing.

The results created by the above project for support will be exhibited in the Invention and Start-up Exhibition (OASIS-6) held in the coming November, and the prize for a project taking higher than 3rd place is 25 points.

In addition, the applicant can obtain a visa based on his or her cumulative points by participating in specific courses such as Start-up Class (OASIS-4), Start-up Coaching and Mentoring Service (OASIS-5), Start-up Incubation (OASIS-7) and Support Establishment of Corporation (OASIS-8) by the Korea Immigration Service Foundation and the Seoul Global Center, and Support for Start-up Items Commercialization (OASIS-9) by the Korea Techno Venture Foundation and Gwangju Institute of Science and Technology.

Meanwhile, 17 foreigners participated in the Advanced Intellectual Property Course (OASIS-2) held in Seoul from the 17th to 22nd and began learning the process of acquiring intellectual property rights which would underlie the establishment of technological start-up companies.

Kumar Amit of India, a researcher at the Seoul National University who participated in this training, said, "While considering the establishment of related fields as I had been working as a researcher in Korea, I was exposed to the OASIS program. Not only because I receive systematic help for acquisition of intellectual property ownership but also because a visa can be obtained, I am earnestly preparing the establishment of a start-up company."

"Many foreigners are dreaming of establishing start-up companies in Korea, paying attention to the OASIS's Intellectual Property Ownership Education," said Tae-soo Yoo, the General Manager of the KIPA. "We will provide generous support for them so that they can first strengthen the basics of intellectual property ownership to succeed in establishing their business."

The next Basic Education and Advanced Education are to be held in Seoul on July 31st and in Gwangju on September 4th, respectively. Applications for Intellectual Property Education and "Intellectual Property Application Support and Prototype Production Support" project are being received on the OASIS homepage at http://ipcampus.kr/oasis-visa.

Global Start-up Immigration Centers in Korea

For further inquiries, please contact:

SunHong Min
Manager, KIPA
+82-2-3459-2760

Photo - http://photos.prnewswire.com/prnh/20150723/240691

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