South Korea boosts protection of key industries
Government acts to prevent overseas technology theft.
South Korea plans to strengthen measures to prevent the overseas leakage of business secrets as global competition for advanced technology intensifies, according to Finance Minister Choi Sang-mok. The government will implement a “big data” system at the patent agency to monitor potential leaks and introduce stricter regulations with tougher penalties for offenders, although details on the punishments were not provided.
The National Intelligence Service reported 97 attempts to leak business secrets to foreign countries over the past five years, 40 of which targeted the semiconductor sector. If successful, these breaches could have caused losses of approximately 23 trillion won ($16.85 billion). Recently, a South Korean executive accused of stealing Samsung Electronics’ chip technology was detained again over new allegations.
In response to global competition and supply chain challenges, South Korea has identified 12 sectors, including semiconductors, rechargeable batteries, aerospace, and AI, as ‘national strategic technologies.’ These industries receive targeted support and protection to boost the country’s technological leadership.
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