June 13, 2023
A former Samsung executive who formerly worked at SK Hynix has been indicted with stealing semiconductor factory plans and technology, making South Korean President Yoon Suk Yeol to speak out against it.
According to sources, the defendants illegally accessed sensitive information from Samsung between 2018 and 2019, resulting in a stunning $230 million loss. The heist was carried out in order to build a semiconductor manufacturing in China near a Samsung facility. To do this, the defendant engaged 200 individuals from both SK Hynix and Samsung in order to get trade secrets.
While the defendant’s attempts to partner with a Taiwanese corporation failed, they were able to acquire $358 million from Chinese investors. This money was supposed to be used to set up a prototype production factory in Chengdu, China, using stolen Samsung secrets.
The prosecutor’s office has stressed the seriousness of the case, claiming that it is larger and more damaging than prior cases of semiconductor technology leaking. They voiced grave worry about the possible implications, since this crime might severely weaken South Korea’s local chip sector, which is already under pressure.
Apart from the main defendant, six co-conspirators, including a subcontractor from Samsung, have also been indicted. This development indicates a larger pattern of China’s ongoing efforts to acquire South Korean technologies across various sectors. In response, South Korea has been implementing stricter penalties for technology theft in order to safeguard its economic security.
The sources for this piece include an article in Engadget.
