Seoul Semiconductor has announced that three of its former employees were charged for divulgence of the company’s LED technology. The police in South Korea have investigated the case and are expected to detain the three individuals.
(Image: Seoul Semiconductor)
According to Seoul Semiconductor, the LED technology divulged is related to automotive applications and the development has cost the company seven years and KRW 560 billion (US$ 501.2 million). Seoul Semiconductor claimed that the three former employees have taken the technology to its competitor, Taiwanese LED producer, Everlight Electronics.
Seoul Semiconductor will charge the three former employees for violating the Act on Prevention of Divulgence and Protection of Industrial Technology, and the Unfair Competition Prevention and Trade Secret Protection Act.
In response to the case, Everlight addressed that the company highly values intellectual property rights and does not tolerate any infringement. Everlight underlined that it has followed the proper process of signing related intellectual property protection contracts with its employees during recruitment. As the case has entered the judicial process, Everlight will respect the judicial investigation in South Korea. However, the company will defend for itself and take legal measures if the case violates its reputation.
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