S. Korea reports surplus in trade of intellectual property rights in H1

South Korea reported a surplus in the trade of intellectual property rights in the first half of this year, as exports of copyrights increased, central bank data showed Friday.

The nation's surplus in the intellectual property account came to US$850 million in the first half, compared with a deficit of $1.11 billion in the second half of last year, according to preliminary data from the Bank of Korea (BOK).

It marked the first six-month surplus since the second half of 2019, when the nation reported a surplus of $350 million in the trade of intellectual property rights.

Its exports of products and services subject to intellectual property right payments reached $8.75 billion in the first half, slightly up from $8.02 billion six months earlier. Its imports fell to $7.9 billion from $9.13 billion.

By country, South Korea posted a shortfall of $1.47 billion in the trade of intellectual property rights with the United States.

South Korea also logged a trade deficit with Japan in the first half. The shortfall came to $310 million, bigger than a deficit of $120 million six months earlier.

South Korea posted a trade surplus in intellectual property rights with China and Vietnam. Its surplus with China stood at $1.14 billion. South Korea also logged a surplus of $970 million with Vietnam.

Source: Yonhap News Agency

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