Ex-Samsung executive charged for stealing trade secrets worth millions of dollars

A former Samsung executive has been charged in South Korea with stealing trade secrets worth hundreds of millions of dollars.
According to prosecutors, the 65-year-old former Samsung worker is accused of stealing clean-room and factory blueprints from the company in 2018 and 2019.
In the Chinese city of Xian, where Samsung already has a chip factory, the suspect allegedly tried but failed to establish a copycat production facility, according to the Suwon district prosecutor’s office.
The unnamed man, who is being held in custody pending trial, stole data that South Korea regards as “national core technology” — a group of technologies that, if made available to the public abroad, could be hazardous to the nation’s economy and national security.
He was formally charged on Monday, according to the prosecution, after having been in custody for some time.
He was referred to as a “top expert in semiconductor manufacturing” and had been employed in the field for many years.
According to South Korean authorities, Samsung would have paid at least $236 million for the information that was allegedly stolen.
“It is a serious crime that can have a tremendous negative impact on our economic security by shaking the foundation of the domestic semiconductor industry at a time when competition for chip production is intensifying every day,” prosecutors said in a statement on Monday.
“The semiconductor industry accounted for 16.5% of South Korea’s total exports in 2022… and is a national security asset.”
Along with the executive, six others have been charged with theft-related offenses.
China informed operators of “critical information infrastructure” last month to stop purchasing Micron’s products after the American chip giant was found to have failed a national security review.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette

States
Independence: NBA urges Nigerians to expect better future
The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.

Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”

Lagos
Police, firm accuse Lagos businessman of land-grabbing in disputed N1 billion Lekki property
Mr Ogunseye claimed to be the beneficial owner of the property.

Economy
Enugu Air gets approval for Lagos-London Gatwick route
According to the statement, the approval marks a step in Enugu Air’s expansion into the international market.

States
Three suspected kidnappers killed in Kogi
Troops noted that the kidnappers were killed during an operation in the Igalamela/Odolu Local Government Area of Kogi State.

NationWide
I will end insecurity if elected president in 2027: Atiku
Mr Atiku stated, “Nigerians are tired of hunger, fear, and broken promises.”

NationWide
WHO says climate, health interventions can save 1.6 million lives annually
The WHO Director-General, Tedros Ghebreyesus, described climate crisis as a health crisis.

States
Yobe constructs, rehabilitates 627 schools, recruits 4,000 teachers: Gov. Buni
The governor said the interventions were part of his administration’s deliberate efforts to revive the education sector.





