Samsung is sharing its significant secrets with small-scale companies in its own country
Being one of the world's most prominent tech brands, Samsung keeps sharing its trade secrets with comparatively smaller tech brands in its homeland.
Samsung Electronics has made a major stride towards fostering shared growth by granting smaller South Korean companies free access to its royalty-free technology patents. This step aims to stimulate innovation and growth in various sectors such as semiconductors, displays, mobile devices, and related fields. As part of this initiative, 123 patent technologies from Samsung will be made available to smaller businesses.
The Ministry of Trade, Industry, and Energy reports that up to 86 smaller firms stand to gain from this initiative. The program has been in place since 2013, aimed at facilitating tech-sharing between conglomerates and smaller companies. A total of 33 South Korean conglomerates and state-run companies have participated, sharing nearly 2,979 patents with 1,416 smaller firms. Samsung's involvement dates back to 2015, during which they've shared 1,082 patents with 588 smaller entities.
Samsung is sharing its significant secrets with small-scale companies in its own country
Recently, Samsung signed a memorandum of understanding (MOU) with South Korea’s Ministry of Trade, Industry and Energy and the Korea Institute for Advancement of Technology. The aim is to foster a win-win scenario in the industry ecosystem through technology sharing. The extent of Samsung's support to the smaller companies seeking to leverage the 123 patent technologies remains unspecified.
This collaborative initiative offers a positive boost to the industry's outlook. Smaller companies are granted an opportunity to enhance their technological competitiveness. The program, backed by the Korean Industry Ministry, assists local startups to strategize their growth and transition into the global market.
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