September 16, 2019
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Samsung Electronics Co., Ltd. (“Samsung”) has been making rapid inroads into the blockchain sector with plans to develop and issue its own cryptocurrency. This made it all the more surprising when Samsung revealed it was not behind the “Samsung Coin” trademark application filed with the Korean Intellectual Property Office (“KIPO”) on July 10.
First reported by CoinDesk, the KIPO filing lists an individual named Kim Nam-jin (“Kim”) as the applicant. Kim is apparently not associated with Samsung. When reached for comment, a Samsung representative rejected any affiliation with Kim, stating “We don’t work this way.”
Although not much is known about Kim, he has reportedly filed other trademark applications that closely track cryptocurrency developments by other tech industry giants. The KIPO database shows that Kim also filed an application on July 10 seeking to trademark “ThinQ Wallet”.
The KIPO filing does not explicitly state that the “Samsung Coin” trademark is to be used for cryptocurrency, but it does say it is to be used for a “downloadable electronic money computer program” and an “electronic money card.”
Authors: Larissa Fulop and Spencer Paveck