Samsung tech secrets sold to Chinese competitor
In a case of industrial espionage, South Korean lawmakers have charged nine individuals and two companies of selling Samsung technology to a company in China. The supplier in question broke a non-disclosure agreement by transferring the intellectual property without any prior knowledge or permission of the owner (Samsung).
The Chinese company, which is apparently involved in screen manufacturing according to a report from Bloomberg, paid around US$13.8 million to get hold of Samsung’s tech knowledge. The information handed over includes details of bendable OLED technology and 3D lamination technology, and hardware was also exchanged.
The culprits were caught in the act as they were preparing another shipment to their Chinese contacts. The CEO of the law-breaking South Korean Samsung supplier apparently even went as far as to create a fake company to assist in the subterfuge. The technology business is prone to acts of industrial espionage and this is not the first time Samsung has had to deal with having its secrets illegally shared with competitors.