Korea Pays $5 Bil. for Overseas Patent Royalties

The amount of royalties paid by South Korea for overseas patents climbed nearly 10 percent last year, while the growth of its patent revenue from abroad fell for the first time in five years, the country's central bank said Thursday.

The combined overseas patent royalties for 2007 stood at US$5.08 billion, up 9.1 percent from a year earlier, according to the Bank of Korea.