Prime Minister Lee Nak-yon says the government will foster an additional 400-thousand intellectual property(IP) experts within five years.

Lee revealed the plan Tuesday at a ceremony in Seoul to mark the country’s inaugural Intellectual Property Day.

Pledging to expand government support fostering specialized personnel and expanding research and development, Lee said he plans to establish a system of creation, protection and application of intellectual property.

According to the prime minister, South Korea has risen to become the world's number five international IP player, with more than 200-thousand patent applications filed annually since 2013 and cultural content exports exceeding six billion U.S. dollars in 2016.