Seven ex-Samsung employees get up to four years in prison for stealing technology - they sold $60m worth of equipment to China

Semiconductors account for 20% of South Korea's exports. The authorities continue to strengthen protections for key national industries. The authorities have imposed restrictions on technology transfer to other countries and seven former Samsung employees will feel the severity of the penalties by example.

Here's What We Know

Ex-employees of SEMES, a Samsung subsidiary, were found guilty of stealing information that was a trade secret. Six of the company's employees were sentenced to varying terms of imprisonment - for a maximum of 30 months. The researcher who obtained the proprietary technology was sentenced to four years in prison.

Employees of the company collected data from 2018 to 2020. They violated South Korea's competition and trade secrets laws. From the illegally obtained information, the miscreants created two dozen blueprints for semiconductor purification machines.

They sold 14 pieces of such equipment worth nearly $60 million to Chinese companies and a research institute. In addition, as a reward, seven SEMES employees received shares in a joint venture in China.

Source: Wall Street Journal