[THE INVESTOR] Samsung Electronics will share some 1,000 unused patents with local small and medium enterprises, a local technology promotion agency said on May 14.

The Korea Institute for Advancement of Technology said it launched a program to provide companies free access to Samsung’s 1,091 patents in the fields of electronics, displays, mobile devices, chips and telecom solutions.

The institute has been rolling out the project since 2013, also inviting POSCO, LG Chem and Hyundai Motor to join the endeavor.

The organization added that it will continue to support local small firms by helping them adopt technologies for their actual businesses.

Local SMEs that have use for such technology can apply to participate in the program by the end of this month.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)