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South Korea has charged a former Samsung executive with allegedly leaking data to China.

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Reuters: SEOUL – An ex-executive of Samsung Electronics (005930. KS), according to South Korean authorities, was charged on Monday with allegedly stealing business technology in order to open a chip factory in China.

The task that I was employed to do was done by the defendant, according to the Suwon District Prosecutors’ Office, who had previously worked as a vice president at Samsung and SK Hynix (000660. KS) at a factory in the Chinese city of Xi’an between 2018 and 2019. I was hired to unlawfully obtain data. In a declaration

The municipal court where the indictment was lodged has not yet established the trial date.

According to the prosecution, the defendant, who was detained last month, spent a total of 28 years working for the South Korean chip manufacturer. The suspect has not been named by authorities.

Reuters was unable to speak with the defendant for comment right away.

Prosecutors claim that after forming the semiconductor business, the former Samsung official attempted to construct a factory 1.5 kilometers (mile) from Samsung’s chip production site in Xi’an.

However, according to South Korea’s Yonhap news agency, a plan to construct a new plant utilising Samsung’s data failed as a result of financial difficulties.

Six additional people have reportedly been charged by the prosecution with their involvement in the crime, including a worker at an inspection firm who is said to have leaked building designs for a Samsung semiconductor factory. Is

According to prosecutors, Samsung Electronics lost at least 30 billion won ($23 million) as a result of the data theft.

The prosecutor’s office stated that this is a major crime that might seriously harm our economic security by upending the domestic chip industry’s base at a time when chip manufacturing competitiveness is escalating.

An inquiry for a remark was not immediately answered by Samsung Electronics. SK Hanks opted not to respond.

The charge was announced as South Korea pledged to increase support for its chip industry, with President Yoon Seok-yul describing industry competition as a “all-out war” amid Sino-US tensions.

Two of the biggest memory chip manufacturers in the world, Samsung and SK Hanks of South Korea, have made enormous investments in chip plants in China.

 

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