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| Amendment of the Korean Trademark Act(effective as of July 28, 2010) |
1. Simplification of the Renewal System of a Registered Mark
Under the current Trademark Act, in a case where the owner of a trademark right wishes to extend the term of the trademark right, the owner must file an Application for a renewal of the term of the trademark right within one year prior to the expiry date of the trademark right, and after the formality examination, the owner must pay the registration fee within two months from the receipt of the Decision to Register the Trademark.
However, according to the amended Trademark Act effective as of July 28, 2010, if the owner of trademark right files a Request for renewal and pays the registration fee at the same time within the renewal period, the trademark right is extended without examination procedure.
2. Introduction of Installments for Trademark Registration Fee
Under the current Trademark Act, the owner of trademark right must pay the registration fee for ten years in a lump-sum within two (2) months from the receipt of the Decision to Register the Trademark.
However, according to the amended Trademark Act, the owner of
trademark right may pay the registration fee for ten years in one
lump-sum or the registration fee in two installments (at a five year
interval) at their choice.
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