South Korea Plans Tougher Penalties to Stop Technology Leaks! 🇰🇷

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Summary:

  1. Strengthening Measures Against Leaks
    South Korea is implementing stronger strategies to prevent the illegal overseas transfer of business secrets, particularly in the context of rising competition for advanced technologies.

  2. Focus on Global Competitiveness
    The Finance Minister, Choi Sang-mok, emphasized the need to protect advanced technologies to boost the global competitiveness of South Korean companies.

  3. Introduction of Big Data Systems
    The government plans to establish a big data system within the patent agency to monitor and prevent technology leaks effectively.

  4. New Regulations and Penalties
    Although specific penalties have not yet been disclosed, new regulations will impose tougher punishments for those involved in leaking technologies.

  5. Recent Leak Attempts
    Over the past five years, there have been 97 recorded attempts to leak business secrets to foreign countries, with a significant portion originating from the semiconductor industry.

Read more at: Reuters

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