Politics · South Korea · 2 hrs ago
South Korea plans tougher penalties for industrial technology theft
South Korea plans to give its industry ministry power to investigate technology theft in advanced sectors such as semiconductors.
The ministry would work more closely with police and other agencies to respond to cases faster.
The government also plans to widen the confiscation of profits from theft and strengthen penalties.
Companies could seek damages that include their research and development costs, at least covering what they spent developing the stolen technology.
The plans would also expand reviews of deals involving national core technologies and strengthen security checks at smaller firms and universities.
The government is considering measures related to key workers moving abroad, while aiming not to restrict their freedom to choose a job.
The government plans to introduce bills this month and include the measures in a broader industrial technology protection plan due later this year.
South Korea plans to give the Ministry of Trade, Industry and Energy special judicial police powers to investigate industrial technology leaks.
The government also plans to expand confiscation of criminal proceeds and include companies’ research and development costs in damages.
The measures are intended to strengthen protection of advanced industries, including semiconductors, and allow faster responses to technology theft.
The government plans to propose amendments to two laws this month and include the measures in a comprehensive plan due later this year.
It is also considering responses to overseas moves by key workers, while seeking not to infringe on freedom of career choice.
- Who
- South Korea’s government, led on this issue by the Ministry of Trade, Industry and Energy.
- What
- It plans tougher measures against industrial technology theft, including giving the ministry special judicial police powers and strengthening financial penalties.
- When
- The measures were discussed on the 19th. The government plans to propose law amendments this month.
- Where
- South Korea.
- Why
- To respond more quickly to technology leaks and strengthen protection of advanced industries, including semiconductors.
This story does not have two clearly opposing sides.
The 76th Industrial Technology Protection Committee met under the minister’s chairmanship and discussed measures to strengthen technology protection.
The government plans to propose amendments to the Industrial Technology Protection Act and the National High-Tech Strategic Industry Act.
The government plans to include the measures in its sixth comprehensive plan for industrial technology protection.
- Investigative powers
- Special judicial police authority planned for the Ministry of Trade, Industry and Energy
- Damages
- Planned to include at least the affected company’s technology-development costs
- Financial penalties
- The government plans to expand the confiscation and collection of criminal proceeds
- Law amendments
- Two bills planned for proposal this month
- Comprehensive plan
- Sixth Industrial Technology Protection Plan due later this year