South Korea Sues Eleven for Selling Samsung OLED Technology to China
South Korea charged nine people and two companies of illegally selling Samsung’s bendable screen technology to a Chinese rival. The chief executive officer of a Samsung supplier and eight of his employees received a sum of 15.5 billion won ($13.8 million) after conspiring with two representatives of the Chinese company to transfer classified OLED technology, according to a statement from prosecutors in Suwon. The names of the companies and individuals weren’t disclosed. According to prosecutors, The CEO even set up a fake company headed by his sister-in-law and even built the equipment at another factory in an attempt to cover up the plot.
Intellectual property theft still a major concern