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    Samsung’s trying to plug leaks with a new confidentiality agreement for partners

    Business
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    Last updated: August 24th, 2021 at 17:02 UTC+02:00

    As Samsung continues to make efforts towards plugging leaks and preventing technologies from falling into the hands of its rivals, the company is said to have sent out a revised confidentiality agreement to its semiconductor and component partners.

    The new confidentiality agreement was reportedly written by Samsung's Device Solutions branch and signed by the co-CEO and Vice Chairman of the chip business. Local news outlet The Elec has learned that Samsung will send the revised contract only to semiconductor partners who are heavily involved with the company's production processes.

    Samsung is outlining new rules and breach of contract fines

    Samsung has reportedly drafted at least a couple of new contract formats for its supply chain partners. One of these contracts is requiring partners to be more open about their employees. Partners will need to keep Samsung informed on former employees who have started working for the company's suppliers within a year of departing from Samsung.

    Furthermore, Samsung asks its partners to prevent ex-Samsung employees from working on technologies that allow them access to confidential information. Breaching these contract agreements can result in partners getting fines of $85,000 and up.

    Although some partners reportedly believe that Samsung's new contract is too strict, it's not like Samsung didn't have to deal with contract breaches in the past. New technologies are the lifeblood of the company, and it makes sense for Samsung to want to maintain the highest level of secrecy.

    Even South Korea's intelligence is on Samsung's side, especially following recent events. A Samsung official was arrested a few years ago for trying to sell company secrets to rivals based in China. And last year, two Samsung Display researchers got charged with leaking OLED technology to China.

    BusinessGeneral Samsung ElectronicsSamsung Semiconductor
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