Everlight Electronics That Illegally Obtained LED Technology Was Charged
Seoul Semiconductor (KOSDAQ:046890), a leading global innovator of LED products and technology, has announced that the International Crimes 4 Team at the Gyeonggi Nambu Provincial Police Agency in Korea is expected to detain three individuals, “A” – a former Managing Director of Seoul Semiconductor, “B” and “C” – former employees of Seoul Semiconductor, who divulged automotive LED technology that cost KRW 560 billion and seven years in development to Everlight Electronics, a competitor of Seoul Semiconductor located in Taiwan.
The three individuals will be charged for violating the Act on Prevention of Divulgence and Protection of Industrial Technology, and the Unfair Competition Prevention and Trade Secret Protection Act, and forwarded for prosecution.
Moreover, the CEO of Everlight Electronics and Everlight itself, both liable for the technology divulgence, have been charged under the Act on Prevention of Divulgence and Protection of Industrial Technology.
A, a former Managing Director of Seoul Semiconductor, took umbrage during his salary negotiations and sought out new employment opportunities using technology illegally obtained from Seoul Semiconductor as leverage. During the course of his search, A agreed to join Everlight Electronics in Taiwan as a high-paid Vice President.
Furthermore, investigations revealed that A attempted to use the information he gleaned illicitly from Seoul Semiconductor to develop an LED product for automotive headlights. To expedite development, A offered B and C, both researcher and former subordinate of A at Seoul Semiconductor, salary increases of 200% each and new jobs at Everlight Electronics in return for technical data from Seoul Semiconductor.
B and C took out laptops from the company to show secret materials of Seoul Semiconductor to A, and browsed for the secret information using their laptops at home on weekends to avoid suspicion from their colleagues. B and C also took photos of the information and either sent them via SNS or delivered them in person at Everlight Electronics in Taiwan.
In particular, B and C learned that Seoul Semiconductor had filed an injunction lawsuit against A for prohibition of competitive transaction as he joined Everlight Electronics in Taiwan, and used aliases and fake business cards to avoid litigation. They even denied the fact they were under the employ of Everlight Electronics during the investigation.
However, facts of the case showed that B and C were offered twice their previous salaries at Seoul Semiconductor, residence fee, monthly a week-long holidays, and round-trip airfares, etc. from Everlight Electronics.
Seoul Semiconductor invests approximately 10% of its annual sales into development of LED technology. In 2011, it produced automotive LED the first in Korea. As a result of its endeavors, Seoul Semiconductor holds more than 12,000 patents, and has been listed as one of the top companies around the world in terms of Patent Power compiled by IEEE (Institute of Electrical and Electronics Engineers), a global technical professional organization for electronics and electrical based in the USA. Seoul Semiconductor is the fourth largest LED manufacturer globally. The global LED lighting market currently stands at KRW 37 trillion. However forecasts expect the sector to reach KRW 52 trillion moving forward.
Separate from this case, Seoul Semiconductor has filed lawsuits against Everlight Electronics in Taiwan for five LED patent infringements.
“We estimate that, if A, B, and C were not discovered and charged, it would have lost KRW 560 billion in research and development over a seven-year period, and encroached upon its sales which currently stands at KRW 1 trillion per year,” said Yong Tae Lee, compliance department executive vice president of Seoul Semiconductor.
“The Police will leverage all legal procedures to track down suspects who leak and divulge technology overseas, as in this case, even when said suspects flee the country. Also, it will cooperate with relevant authorities to enforce measures that will allow the Police to restrict imports/exports and prohibit entry of personnel from foreign corporations that engage in industrial espionage. Moreover, it will continue to work on recovering financial damages caused by the divulgence of technology,” said the Gyeonggi Nambu Provincial Police Agency.
Lawsuits for LED patent infringements against Everlight Electronics (“E”)
|#||Case||Date & News Release|
SSC v. E
Nichia v. E
Bridgelux v. E
* As a result of a lawsuit regarding the prohibition on the change of employment, which forbids a person from joining a competitor of his/her former employer for a set period of time (1~2 years) after termination, defendant A was ordered to pay KRW 100 million for violating his Non-competition agreement and joining Everlight Electronics, and a further KRW 2 million per day if A continues employment at Everlight Electronics. (Seoul Central District Court, April 2017).
About Seoul Semiconductor
Seoul Semiconductor develops and commercializes light emitting diodes (LEDs) for automotive, general illumination, specialty lighting, and backlighting markets. As the fourth-largest LED manufacturer globally, Seoul Semiconductor holds more than 12,000 patents, offers a wide range of technologies, and mass produces innovative LED products such as SunLike – delivering the world’s best light quality in a next-generation LED enabling human-centric lighting optimized for circadian rhythms; WICOP – a simpler structured package-free LED which provides market leading color uniformity and cost savings at the fixture level, providing high lumen density and design flexibility; NanoDriver Series – the world’s smallest 24W DC LED drivers; Acrich, the world's first high-voltage AC-driven LED technology developed in 2005, including all AC LED-related technologies from chip to module and circuit fabrication, as well as multi-junction technology (MJT); and nPola, a new LED product based on GaN-substrate technology that achieves more than ten times the output of conventional LEDs. UCD constitutes a high color gamut display which delivers more than 90% NTSC. To learn more, visit www.seoulsemicon.com.
Seoul Semiconductor Inc.
Jeonghee Kim, +82-70-4391-8311
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
FDA Approves OTEZLA® (apremilast) for the Treatment of Oral Ulcers Associated with Behçet’s Disease19.7.2019 20:59:00 EEST | Press release
Celgene Corporation (NASDAQ:CELG) today announced that the U.S. Food and Drug Administration (FDA) has approved OTEZLA® (apremilast) 30 mg twice daily (BID) for the treatment of adult patients with oral ulcers associated with Behçet’s Disease. OTEZLA, an oral, selective inhibitor of phosphodiesterase 4 (PDE4), is the first and only approved treatment option for oral ulcers associated with Behçet’s Disease, a rare, chronic, multisystem inflammatory disease that is difficult to treat. “Oral ulcers are a recurring and debilitating manifestation that affects nearly everyone living with Behçet’s Disease, and have an important negative impact on the quality of life for these patients,” said Yusuf Yazici, M.D., Clinical Associate Professor, Department of Medicine, New York University Langone Health. “In the clinical trial, OTEZLA demonstrated improvements in measures of oral ulcers at week 12. OTEZLA has the potential to be a needed treatment option for U.S. patients and their physicians, who
Abiraterone Acetate Included in World Health Organisation’s Essential Medicines List for the Treatment of Metastatic Castration-Resistant Prostate Cancer19.7.2019 16:05:00 EEST | Press release
The Janssen Pharmaceutical Companies of Johnson & Johnson is delighted with the recent announcement from the World Health Organisation (WHO) to include abiraterone acetate (ZYTIGA ® ) for the treatment of metastatic castration-resistant prostate cancer (mCRPC), in the updated Essential Medicines List, published on 9th July 2019.1,2 The WHO’s Essential Medicines List is a core guidance document that helps countries prioritise critical health products that are recommended to be widely available and affordable throughout health systems.1 “The inclusion of abiraterone acetate in the WHO Essential Medicines List highlights the critical role that this treatment can play in improving the lives of patients living with mCRPC and their families,” said Dr. Joaquín Casariego, Janssen Therapeutic Area Lead Oncology for Europe, Middle East & Africa, Janssen-Cilag S.A. “I am proud that we are working hard to impact survival and quality of life by developing and providing innovative medicines which ar
Gilead Sciences Licenses Respiratory and Herpes Antiviral Research Programs From Novartis19.7.2019 15:30:00 EEST | Press release
Gilead Sciences, Inc. (NASDAQ: GILD) announced today that it has licensed three preclinical antiviral programs from Novartis, including investigational agents with the potential to treat human rhinovirus, influenza and herpes viruses. Under the agreement, Gilead will acquire exclusive global rights to develop and commercialize novel small molecules against three undisclosed targets. Novartis will receive an upfront payment and is eligible to receive up to an additional $291 million in potential milestone payments upon achievement of certain development and commercial milestones, as well as royalties on annual net sales. “Today’s announcement builds on Gilead’s heritage in antiviral research and development. We look forward to applying this expertise to advance the development of potential new treatments for viruses with limited therapeutic options,” said John McHutchison AO, MD, Gilead’s Chief Scientific Officer and Head of Research and Development. Gilead’s antiviral portfolio include
Schlumberger Announces Second-Quarter 2019 Results19.7.2019 14:00:00 EEST | Press release
Schlumberger Limited (NYSE: SLB) today reported results for the second quarter of 2019. (Stated in millions, except per share amounts) Three Months Ended Change Jun. 30, 2019 Mar. 31, 2019 Jun. 30, 2018 Sequential Year-on-year Revenue $8,269 $7,879 $8,303 5% 0% Pretax segment operating income $968 $908 $1,094 7% -12% Pretax segment operating margin 11.7% 11.5% 13.2% 17 bps -148 bps Net income - GAAP basis $492 $421 $430 17% 14% Net income, excluding charges & credits* $492 $421 $594 17% -17% Diluted EPS - GAAP basis $0.35 $0.30 $0.31 17% 13% Diluted EPS, excluding charges & credits* $0.35 $0.30 $0.43 17% -19% North America revenue $2,801 $2,738 $3,139 2% -11% International revenue $5,463 $5,037 $5,065 8% 8% North America revenue, excluding Cameron $2,243 $2,178 $2,546 3% -12% International revenue, excluding Cameron $4,761 $4,469 $4,387 7% 9% *These are non-GAAP financial measures. See section titled "Charges & Credits" for details. Schlumberger Chairman and CEO Paal Kibsgaard commente
Schlumberger Appoints Olivier Le Peuch as CEO19.7.2019 13:46:00 EEST | Press release
Schlumberger Limited (NYSE: SLB) announced today that its Board of Directors has appointed Olivier Le Peuch as its Chief Executive Officer and member of the Schlumberger Board, effective August 1, 2019. Mr. Le Peuch succeeds Paal Kibsgaard, who will retire as Chief Executive Officer effective that same date. Also effective August 1, Mr. Kibsgaard will step down as Chairman of the Board and retire as a member of the Board of Directors. Mr. Kibsgaard will retire after more than 22 years of service to the Company, including eight years as CEO and four years as Chairman. Effective the same date, Mark G. Papa, a current non-independent director, will become non-executive Chairman of the Board. Peter Currie will continue to serve as the Board’s Lead Independent Director. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190719005161/en/ Olivier Le Peuch is appointed Chief Executive Officer and a member of the Schlumberger Board, effe
Fluke Corporation Acquires Industrial Reliability Leader PRÜFTECHNIK19.7.2019 13:00:00 EEST | Press release
Fluke Corp., the global leader in test and measurement instruments, has acquired Ismaning, Germany-based PRÜFTECHNIK, a market leader in precision laser shaft alignment, condition monitoring, and non-destructive testing. “Fluke’s acquisition of PRÜFTECHNIK reflects the growing importance our customers place on reliability systems to keep their equipment in optimum operating condition,” said Marc Tremblay, president of Fluke Corporation. “This business will help us usher in the next generation of solutions for our industrial customers.” Fluke Corporation For information on Fluke tools and applications, or to find the location of your nearest distributor, contact Fluke Corporation, P.O. Box 9090, Everett, WA USA 98206, call (800) 44-FLUKE (800-443-5853), fax (425) 446-5116, e-mail email@example.com or visit the Fluke Web site at http://www.fluke.com. About Fluke Founded in 1948, Fluke Corporation is the world leader in compact, professional electronic test tools and software for measu
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom