Korean Giant Samsung Denies Any Connection with Purported “Samsung Coin”

By Prashant Jha

Earlier this month, Kim Nam-jin had made an application to procure a Trademark 5 for the name “Samsung Coin”. The application had been filed with KIPO, the Korean Intellectual Property Office and as per the filing, it seems that Nam-jin is looking to trademark the name in two forms, its English spelling as well as its Korean spelling in Hangul.

It would seem that the tech major Samsung is behind the filing but turns out it is not. According to a report published by crypto news media outlet CoinDesk, on 19th July, a Samsung spokesperson has clarified with the media house that Kim Nam-jin is not in any way affiliated with the Korean company. The representative reportedly commented that the company does not work in this manner.

The report further notes that the trademark was filed under a category which includes downloadable electronic money computer program, IC card with electronic money function, electronic money card and electronic encryption device. Even though the name “Samsung Coin” is likely to make us think of a crypto connection, there was no mention of cryptocurrencies or blockchain.

Apparently, this is not the first time that Kim Nam-jin had tried to get a trademark for a term that seems to be related to the world of crypto, with a name that is commonly associated with major player in the Korean tech space.

Apparently, Nam-jin had also filed an application with KIPO for a trademark on the name “ThinQ Wallet” on the same day as he filed the application for the Samsung Coin. However, his claim was invalidated by the fact that LG Electronics had already filed to trademark the exam same name some days earlier, on the 2nd of July. LG is reportedly trying to develop a multifunctional cryptocurrency wallet of that name.