South Korea significantly increases prison sentences for stealing or leaking technology secrets
11 April 2024
South Korea has enacted harsher punishment guidelines for anyone found guilty of stealing or leaking technical knowledge.
The amended legislation also adds more assessment criteria to the process of authorizing foreign corporations' mergers and acquisitions of Korean businesses, which aids in determining how the proposed combination may affect the economy and security of the nation.
Under the Prevention of Divulgence and Protection of Industrial Technology Act, guidelines for punishment for information leaks went into effect on March 26, 2024. On the other hand, starting on July 1, 2024, penalties for smuggling technology-related information out of the nation will be heavier.
The maximum sentence for disclosing the country’s intellectual property overseas has been increased from nine to 15 years. There will soon be a three-fold increase in the maximum sentence for anybody found guilty of smuggling designated essential technology out of South Korea, resulting to 18 years in jail.
Additionally, the maximum amount of fines for the nation’s key technology has been raised from W1.5 billion (US$1.1 million) to W6.5 billion (US$4.8 million), and the maximum amount for lower-level technologies is now W3 billion (US$2.2 billion).
The new regulations forbid first-time offenders from receiving leniency, and brokers of thefts will now also be prosecuted.
The National Office of Investigation in South Korea reported in November 2023 that there had been a 10-year spike in the number of incidents involving the leakage of information regarding technology being developed in the country to foreign nations.
- Excel V. Dyquiangco
