Seoul Semiconductor: Everlight Is Criminally Convicted for Misappropriating Seoul Semiconductor’s Trade Secrets and Technology
Seoul Semiconductor Co., Ltd. (KOSDAQ 046890), a leading global innovator of LED products and technology, announced that the Korean Suwon District Court Appellate Division found Everlight Electronics (“Everlight”) guilty of criminal misappropriation of Seoul Semiconductor’s trade secrets and industry technology.
The court awarded criminal fines against Everlight – the maximum fine for a foreign company for the commission of such a crime so far. Three former employees of Seoul Semiconductor (“Seoul”) who left the company and went to work at Everlight were also sentenced to one to two years in prison with two to three years of probation for trade secret and technology misappropriation.
The Korea Prosecutors’ Office criminally indicted Everlight together with Seoul’s former employees for criminal misappropriation of Seoul’s trade secrets and industry technology. The lower court convicted Everlight on a charge of criminal misappropriation of trade secrets, and the appellate court affirmed the lower court’s decision and also upheld a charge of criminal misappropriation of Seoul’s industry technology by Everlight.
Seoul is the top LED company in Korea and No. 3 in the world. Over the past 30 years, Seoul has devoted itself to R&D with a vast patent portfolio and is leading second generation LED technology. However, some global companies still purchase cheaper copycat products that infringe Seoul’s technology and sell those products under their branding, despite alleging their compliance with ESG.
“Intellectual property is the only tool that enables small businesses and entrepreneurs to survive and grow up. Companies stealing such hard-earned technology should be expelled from the market,” said Seoul Semiconductor’s founder, Chung Hoon Lee.
About Seoul Semiconductor
Seoul Semiconductor is the world’s second-largest global LED manufacturer, a ranking excluding the captive market, and has more than 18,000 patents. Based on a differentiated product portfolio, Seoul offers a wide range of technologies, and mass produces innovative LED products for indoor and outdoor lighting, automotive, IT products, such as mobile phones, computer displays, and other applications, as well as the UV area. The company’s world’s first development and mass production products are becoming the LED industry standard and leading the global market with a package-free LED, WICOP; a high-voltage AC-driven LED, Acrich; an LED with 10X the output of a conventional LED, nPola; a cutting edge ultraviolet clean technology LED, Violeds; an all-direction light emitting technology, filament LED; a natural sun spectrum LED, SunLike; and more. For more information, please visit www.seoulsemicon.com/en.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220824005046/en/
Contact information
Seoul Semiconductor Co., Ltd.
Jinseop Jung
Tel: +82-10-5472-8732
Email: jjs8732@seoulsemicon.com
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
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
flatexDEGIRO Starts Into Expected Record Year 2024 With a Jump in Revenues and Earnings25.4.2024 20:19:00 CEST | Press release
flatexDEGIRO starts into expected record year 2024 with a jump in revenues and earnings Revenues increased by 25% to € 123 million (Q1 2023: € 98 million) flatexDEGIRO benefits from both rising interest income and a significant increase in commission income per transaction EBITDA improves by 177% to € 54 million (Q1 2023: € 19 million) Consolidated net profit increases by 340% to € 30 million (Q1 2023: € 7 million) 121,000 new customer accounts in Q1 2024 increase customer base to over 2.8 million (March 2023: 2.5 million) Net cash inflows of € 1.8 billion in Q1 2024 Revenues and consolidated net income in 2024 expected to be at the upper end of the guidance corridor (revenue growth of 5-15% and increase in consolidated net income of 25-50%) For the first time, the Management Board and Supervisory Board will propose to the upcoming Annual General Meeting the authorization to buy back up to 10% of the share capital as well as an additional dividend of 4 cents per share Dr. Benon Janos,
OpenGate Capital Completes Sale of SMAC25.4.2024 19:14:00 CEST | Press release
OpenGate Capital (“OpenGate”), a global private equity firm, announced today that it has completed the sale of SMAC, a provider of waterproofing and building envelope systems, to Compagnie Financière Jousset (“CFJ”) and the SMAC management team. Terms of the transaction were not disclosed. SMAC was established in 1884 and has grown into a leader in the French waterproofing and facades market. OpenGate acquired the business in 2019 from Colas Group, a subsidiary of Bouygues SA. Following the carve-out and stabilization of SMAC in the first year of investment, OpenGate embarked on a three-prong approach to sell the manufacturing (“Industrie”) business lines in 2020 and 2021 and achieved the following results: March 2021: Axter (membranes business) was sold to IKO April 2021: Skydôme (skylights business) was sold to Kingspan January 2022: Résipoly (resins business) was sold to MAPEI After the disposals of the Industrie business lines, SMAC was then able to focus on its core “Travaux” (ins
Farcana Announces Gateway: Showdown - Playtest Kicks Off April 30th, with a 1,000,000 $FAR token prize pool!25.4.2024 17:40:00 CEST | Press release
Farcana, a highly anticipated competitive, team-based hero shooter, announces Gateway: Showdown, a public playtest event taking place from April 30th to May 4th, 2024. This playtest serves as a crucial opportunity for Farcana to gather valuable player feedback, showcase the latest iteration of the game before its official launch and offer players a chance to claim a portion of the 1,000,000 $FAR token prize pool. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240425936808/en/ Farcana Announces Gateway Showdown - Playtest Kicks Off April 30th, with a 1,000,000 $FAR token prize pool! (Photo: AETOSWire) Gateway: Showdown welcomes all aspiring heroes with a signup process designed for ease and accessibility. Players can visit the official Farcana website at https://www.farcana.com to download the game client, create an account, and be automatically enrolled in the playtest. Every match played during the event will contribute to
Antognolla at International Hospitality Investment Forum: Growing Interest in the Italian Market from Hotel Operators and Investors25.4.2024 16:39:00 CEST | Press release
Antognolla Resort & Residences joined world-class hospitality experts at the Hospitality Investment Forum EMEA (IHIF EMEA) on 15-17 April in Berlin. With over 2,500 attendees this year, IHIF EMEA remains one of the largest gatherings of industry professionals in the region. Hospitality experts and event participants reaffirmed the growing interest among hotel operators in Italy, evident from the number of prestigious international brands entering the Italian market. The hospitality market in the country is becoming more identity-driven, with the majority of hotel keys in the upscale and luxury category being branded. International operators are increasingly attracted to the country year by year: almost 70% of the properties in the pipeline will belong to international chains by 2026. Andrey Yakunin, Chairman of the Board of Directors of Antognolla Resort & Residences commented: “As international experts discussed during IHIF, identity-driven, branded projects are set to become the lead
Digital Transformation’s Next Era: Generative AI and Laserfiche 12 at 2024 Empower Conference25.4.2024 16:30:00 CEST | Press release
Preparing organizations for the next AI-driven phase of digital transformation is on the agenda at the 2024 Empower conference, hosted by Laserfiche — the leading SaaS provider of intelligent content management and business process automation — in Las Vegas through April 25. Laserfiche shines a spotlight on solutions that reduce complexity and accelerate information flow across the enterprise to help organizations manage increasing amounts of data. Empower attendees got an early look at the latest Laserfiche AI features, including Laserfiche AI Document Summarization. The new offering, powered by generative AI, eliminates tedious sifting through documents by generating concise summaries of documents containing either text or transcribed audio. Laserfiche AI Document Summarization, which represents one milestone in the Laserfiche AI vision to transform the workplace, will be available in the upcoming Laserfiche Cloud release on April 30, 2024. “At Laserfiche, we believe AI will impact p