South Korea to halt chipset and technology leak with strict measures

South Korea is planning strict measures to block its chipset secrets as well as business leaks worldwide. The government could soon impose “heavier than before” penalties on those who leak regional regulations and chip-related secrets to others.

According to Reuters, the finance minister of South Korea, Choi Sang-mok said that the country is readying strict measures and rules to block chipset and technology leaks in the global market. It is preparing a big-data system as a major safety.

The new “big data” system will lead to useful and stricter rules with tougher punishments for culprits. The penalties under this system are unknown but it will eventually ensure full security of the business secrets and chip tech in the country.

“We will prevent illegal leaks of advanced technologies to raise the global competitiveness of our companies and strengthen technology leadership.” – said Choi.

South Korean government is taking such strict measures following the previous leak cases in the country. Inputs reveal that over 97 attempts have been made in the past five years to leak business secrets and chipset details to other countries.

As noted by the National Intelligence Service, 40 of these leaks were regarding chip manufacturing and its relevant parts. The good news is that these leaks didn’t achieve success. Or else, it would have led to a loss of $16.85 billion to the country.

In September, a South Korean official blamed for stealing chipmaking details from Samsung.  Thus, a few strict measures on this matter are quite necessary.

Over the years, South Korea established around 12 national strategic tech firms that can support the country financially. These include rechargeable batteries, aerospace and artificial intelligence, semiconductors, and more.

These industries also aim to protect and respond actively to global competition and help resolve supply chain problems. It would be worth seeing what new penalties South Korea will take on the chipset and tech leak matter.

South Korea to halt chipset and technology leak with strict measures (Image Credits: Samsung)

|| Source/Featured Image – Samsung Semiconductor ||