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South Korea charges 11 people for leaking Samsung’s OLED tech to China

By Cookie Monster - on 30 Nov 2018, 12:25am

South Korea charges 11 people for leaking Samsung’s OLED tech to China

The Samsung Galaxy Note9.

Prosecutors in South Korea have charged 11 people from two companies for illegally selling Samsung’s OLED technology to China. 

According to Bloomberg, the CEO of a Samsung supplier and 8 of his employees received US$13.8 million from two representatives of a Chinese firm to transfer Samsung’s OLED technology. 

Apparently, the Samsung supplier transferred “3D lamination” technology and other equipment to the Chinese firm between May and August, which violated the non-disclosure agreement with Samsung. Samsung is said to have invested 150 billion won over 6 years to develop the technology. 

In response to the results of the investigations, Samsung issued a statement and said that it was shocked and would keep a close eye on the trial. 

Considering that Samsung Display currently has a near monopoly of the OLED market and sales of OLED displays contribute a significant portion of the conglomerate’s revenues every year, the theft of its OLED technology could affect Samsung’s lead in the market as competitors narrow the technological gap and catch up.

Source: Bloomberg