South Korea tightens efforts to protect Samsung and others from tech leak

Samsung faced a key technology leak that could have ruined its semiconductor investments and efforts. As cases surface, South Korea vowed to tighten tech leak prevention to safeguard home-grown innovation by Samsung and others.

Reuters reports that South Korea is preparing big decisions to protect Samsung and other local firms from the leak of key tech and business secrets. The Korean govt will prepare stronger measures to shield advanced technologies from leak.

A former Samsung employee was recently arrested over allegations of stealing semiconductor information. The person was accused of transferring key semiconductor secrets to a Chinese firm as part of establishing a facility.

South Korea’s finance minister announced that the Government is working on the preparation of stronger measures to prevent overseas leaks of business secrets amid intensifying competition for advanced technologies.

“We will prevent illegal leaks of advanced technologies to raise the global competitiveness of our companies and strengthen technology leadership,” Minister Choi Sang-mok said.

Korean FM disclosed that the government will set up a “big data” system. It will be aimed at preventing tech leaks at the patent agency and bringing new regulations to ensure stronger punishment and penalties for culprits.