South Korea is set to strengthen its efforts to prevent overseas leaks of critical technologies, especially in the face of rising global competition for advanced innovations, Finance Minister Choi Sang-mok announced Thursday. He emphasized that illegal technology leaks pose a threat to the country’s global competitiveness and technological leadership. To counteract this, the government will implement stronger measures, including setting up a “big data” system at the patent agency designed to curb leaks. New regulations will also introduce tougher penalties for those involved, although the specifics of these penalties were not detailed.
According to South Korea’s National Intelligence Service, 97 attempts have been made in the last five years to leak business secrets to foreign entities, with 40 of those targeting the semiconductor industry. If successful, these attempts would have caused an estimated economic loss of around 23 trillion won ($16.85 billion). This underscores the significance of safeguarding key industries from such threats.
One high-profile case involved a South Korean executive, recently detained over fresh allegations of stealing semiconductor technology from Samsung Electronics. This highlights the ongoing challenge of protecting critical innovations, particularly in the semiconductor sector, which is a cornerstone of South Korea’s technology economy.
In response to the growing global competition, South Korea has designated 12 industries, including semiconductors, rechargeable batteries, aerospace, and artificial intelligence, as “national strategic technologies.” These sectors benefit from targeted financial support and protection in a bid to bolster the country’s position in fragmented global supply chains.
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