Comparing Copyright Law in South Korea and Indonesia

5 Questions

In Indonesia, how is a security interest perfected?

All of the above

In South Korea, how is the priority of security interests determined?

By the date of registration

What is required in South Korea before a lender can seize and exploit a copyrighted work in case of default?

A court order

How does the enforcement of security interests differ between South Korea and Indonesia?

In South Korea, a court order is required, while in Indonesia it is not

What is a similarity between the two countries regarding the enforcement of security interests?

In both countries, the lender can seize and exploit the copyrighted work in case of default

Study Notes

Copyright Law: South Korea and Indonesia Comparison

Similarities:

Both South Korea and Indonesia recognize copyrights as a type of intangible property that can be used as collateral for loans.
In both countries, the concept of fiduciary collateral loans allows for the use of copyrights as security for a loan, where the lender has a right to seize and exploit the copyrighted work in case of default.
Both countries require registration of copyrights to perfect the security interest and to provide public notice of the collateral arrangement.

Differences:

Registration requirements:
- In South Korea, copyright registration is not mandatory, but it is necessary to perfect the security interest and to provide public notice. Registration is done with the Korean Intellectual Property Office (KIPO).
- In Indonesia, copyright registration is mandatory, and it is done with the Directorate General of Intellectual Property (DGIP).
Types of copyrights that can be used as collateral:
- In South Korea, all types of copyrights can be used as collateral, including literary, musical, and artistic works.
- In Indonesia, only certain types of copyrights can be used as collateral, such as literary, musical, and cinematographic works.
Perfection of security interest:
- In South Korea, the security interest is perfected by registering the copyright with the KIPO and by obtaining a certificate of registration.
- In Indonesia, the security interest is perfected by registering the copyright with the DGIP and by obtaining a certificate of registration, as well as by notifying the relevant authorities.
Priority of security interests:
- In South Korea, the priority of security interests is determined by the date of registration.
- In Indonesia, the priority of security interests is determined by the date of notification to the relevant authorities.
Enforcement of security interests:
- In South Korea, the lender can seize and exploit the copyrighted work in case of default, but must first obtain a court order.
- In Indonesia, the lender can seize and exploit the copyrighted work in case of default, without the need for a court order, but must follow the procedures set out in the Indonesian Civil Code.