South Korea’s Korea Intellectual Property Office has proposed a 2027 budget of 710.6 billion won ($510 million), an increase of 79.8 billion won, or 12.7%, from this year. The rise is the largest since the agency was established. Core spending on creating, using and protecting intellectual property would reach 473.1 billion won, up 14.1%. The plan prioritizes monetizing ideas and IP, protecting strategic technologies, developing regionally led IP ecosystems and applying artificial intelligence to IP administration. Programs include overseas patent filings for universities and public research institutes, a 20 billion won contribution to a fund of funds for overseas monetization, technology-leak defenses for industries including semiconductors and shipbuilding, and stronger action against counterfeits and industrial espionage. The agency also plans regional IP and entrepreneurship support, plus AI tools for patent searches, dispute information and KIPRIS, its intellectual property information search service. Commissioner Kim Yong-sun said the budget would focus on overseas patent monetization and protecting advanced strategic industries. The proposal will undergo National Assembly committee reviews and is scheduled for finalization in December after a plenary vote.