South Korea issues more severe penal sentences for stealing or leaking technology secrets
South Korea has enacted stricter legislation to combat the theft and leaking of technical knowledge, reflecting its commitment to protecting industrial technology and national security. Under the updated Prevention of Divulgence and Protection of Industrial Technology Act, the guidelines for punishing information leaks became effective on March 26, 2024, with even harsher penalties for smuggling technology-related information set to commence on July 1, 2024.
Increased Sentences and Fines:
- Intellectual Property Leaks Overseas: The maximum prison sentence for disclosing South Korean intellectual property to foreign entities has been increased from nine to 15 years.
- Smuggling Essential Technology: The penalty for smuggling designated essential technology has been tripled, raising the maximum sentence to 18 years in prison.
- Fines for Key Technology Leaks: The maximum fine for leaking key national technology has been elevated from W1.5 billion (US$1.1 million) to W6.5 billion (US$4.8 million).
- Fines for Lower-Level Technology Leaks: The maximum fine for leaking lower-level technologies is now W3 billion (US$2.2 million).
No Leniency for First-Time Offenders:
The new regulations eliminate leniency for first-time offenders, ensuring that even initial violations are met with substantial penalties. Additionally, brokers involved in technology thefts will also face prosecution under the revised laws.
Enhanced Merger and Acquisition Scrutiny
The amended legislation introduces more comprehensive assessment criteria for authorizing foreign corporations’ mergers and acquisitions of Korean businesses. These criteria are designed to evaluate the potential economic and security impacts of proposed mergers, aiming to prevent any negative consequences for the nation.
Rising Incidents and Government Response
The National Office of Investigation in South Korea reported a significant increase in incidents involving the leakage of developing technology to foreign nations over the past decade. This surge in cases underscores the importance of the new measures in safeguarding South Korea’s technological advancements and intellectual property.
Conclusion
South Korea’s stringent new laws reflect a robust approach to protecting its technological assets and national security. By imposing severe penalties and enhancing regulatory scrutiny, the country aims to deter technology theft and leakage, ensuring that its innovations remain secure and its economic interests are safeguarded.
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