U.S. Granted Patents: Utility Patents Originating in South Korea
PATENT4NKRUTILITY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,977.00
Year-over-Year Change
191.12%
Date Range
1/1/1992 - 1/1/2020
Summary
This economic indicator tracks the number of utility patents granted by the U.S. Patent and Trademark Office to inventors and businesses originating in South Korea. It provides insights into South Korea's technological innovation and global competitiveness.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The U.S. Granted Patents: Utility Patents Originating in South Korea series measures the volume of utility patents - which cover new and useful inventions - awarded to South Korean applicants. This data is a key metric for evaluating South Korea's success in driving research, development, and technological advancement.
Methodology
The data is collected by the U.S. Patent and Trademark Office through its patent application and issuance process.
Historical Context
This trend is closely watched by economists, policymakers, and market analysts to gauge South Korea's innovation capacity and its impact on global trade and industry.
Key Facts
- South Korea was the 5th largest source of utility patents in 2021.
- Utility patents represent 90% of all patents granted to South Korean inventors.
- Patent activity is concentrated in electronics, machinery, and chemicals sectors.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of utility patents granted by the U.S. to inventors and companies based in South Korea. Utility patents cover new and useful inventions, technologies, or processes.
Q: Why is this trend relevant for users or analysts?
A: Patent data provides insights into South Korea's capacity for technological innovation and its global competitiveness. This is a key metric for evaluating the country's research, development, and commercialization activities.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office through its standard patent application and issuance process.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and market analysts closely monitor this indicator to gauge South Korea's innovation ecosystem and its implications for trade, industry, and global competitiveness.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in reporting due to the patent application and issuance process. The data may not capture all patent activity, as some inventions are not patented.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in South Korea (PATENT4NKRUTILITY), retrieved from FRED.