Korea Amps Up Anti-Tech Theft Measures: Harsher Penalties

Korea Strengthens Efforts to Combat Technology Theft in the Semiconductor Sector

The Korean government is ramping up its efforts to combat the growing problem of industrial technology theft, particularly in the semiconductor sector. In response to a rise in cases, the Ministry of Trade, Industry and Energy has announced plans to expand and strengthen penalties for technology theft. These new measures aim to deter foreign entities from acquiring or merging with local companies that possess strategic technologies without proper authorization. As part of the revised rules, these entities will be required to submit a report to Korean authorities, a responsibility previously only placed on the local companies.