A man has been indicted in South Korea for allegedly stealing hundreds of millions of dollars worth of trade and production secrets from South Korean technology giant Samsung for China.
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| Accused of stealing Samsung secrets for China |
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According to the indictment, the accused stole the technology, worth hundreds of millions of dollars, in order to later set up a factory in China to produce exactly the same chip.
The State Prosecutor's Office of Suwon District in the South Korean capital of Seoul told the news agency AFP that the suspect is currently 65 years old and that he designed Samsung's technology in 2018 and 2019 for one of the giants. Factory Project and stole from the 'clean room'.
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| the stolen secrets are worth at least 300 billion won, or 236 million US dollars |
According to South Korean officials, the stolen secrets are worth at least 300 billion won, or 236 million US dollars.
'Theft was done to set up a chip factory in China
According to South Korean authorities, the suspect stole these highly valuable Samsung secrets so that he could later establish a new semiconductor factory in the Chinese city of Xi'an in cooperation with China.
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| Workers at a Samsung Electronics factory in South Korea |
The peculiarity of the Chinese city of Xi'an is that a Samsung factory producing such electronic chips is already operating there, and the new factory was to be set up in competition with Samsung's same production unit by stealing industrial secrets.
The prosecutor's office in Seoul did not reveal the suspect's identity but confirmed that the suspect is currently in pre-trial detention by authorities.
South Korea's national security
State prosecutors also confirmed that the South Korean stole Samsung's secrets and technical materials for China, which the country's government has described as 'national core technology'.
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"National core technology" refers to information and technical materials that, according to the government's position, could potentially cause serious damage to South Korea's economy and national security if they were to reach overseas. are
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| Lee Jay Young, the current head of Samsung Group |
In the world of modern electronics, electronic chips called semiconductors have become so important today that they have led to a regular trade war between the world's largest economy, the United States, and the second-largest economy, China.
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These two economic powers want to outdo each other in technology to manufacture semiconductors and deliver their products to markets around the world.
It is also important in this background that a factory was allegedly set up in China with the help of the industrial production secrets stolen from Samsung in South Korea.
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| South Korea Won South Korea Seoul |
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As for the accused in custody, he is said to be a person who has worked in the industry for decades and is considered to be a leading expert in the semiconductor manufacturing industry.
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According to South Korean authorities, the secrets the accused stole are worth at least 300 billion won, or 236 million US dollars.
Samsung Electronics is one of the largest manufacturers of electronic chips and smartphones worldwide. The company, which is part of the giant Samsung Business Group, generates enough revenue to account for a fifth of South Korea's gross national product.
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