BREAKING: Ex-Samsung employee charged for leaking chip technology to China

Samsung's ex-employee stole semiconductor chip data and attempted to start a new chip firm in China

The employee formerly worked for SK Hynix, another chip-making South Korean firm, as a Vice President. South Korean prosecutors from the Suwon District said that the employee illegally acquired Samsung's confidential information, set up a semiconductor chip firm, and tried to build a chip factory in Xian, China, between 2018 and 2019. The factory was 1.5 km away from Samsung's chip factory in Xian.

The indictment has been filed, but the date of the trial hasn't been revealed yet. The defendant worked for 28 years for South Korean semiconductor chip firms. Their attempt at making a chip factory, however, failed due to funding-related issues. South Korean prosecutors have also charged six other people for their involvement in this industry espionage.

It is being reported that Samsung faced at least KRW 30 billion (around $23 million) worth of losses due to this information leak. Samsung Electronics and SK Hynix declined to comment on the matter, as reported by Reuters.