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.
Seoul Semiconductor Co., Ltd.
About 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
Mary Kay Awards Education Grant to Young Woman Aspiring to Become First Latin American Woman Astronaut to Visit Mars5.10.2022 23:40:00 CEST | Press release
As a decades-long leader in women’s empowerment and innovative science, Mary Kay celebrates young women who are taking charge of their futures through leadership, innovation, and determination to excel in STEAM fields. Women make up only 28% of the workforce in science, technology, engineering, and math.  By offering continued support to young women in STEAM fields, they are continuing Mary Kay’s mission, which is to improve women's lives everywhere. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221005005835/en/ Mary Kay is committed to inspiring young women making tremendous contributions to STEAM fields to continue to pursue their dream. (Photo: Mary Kay Inc.) “More young women gaining access to STEAM education leads to an increase in women embracing careers in those fields. In turn, this provides access to more equal opportunities for women, narrows the gender pay gap, bolsters economies, and eliminates bias in scient
300 Rimini Street Employees Will Gather in Las Vegas to Handmake 500 Fleece Blankets for Local Foster Children, Shelter Pets, and Homeless Youth5.10.2022 23:09:00 CEST | Press release
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that on October 6, 2022, over 300 Rimini Street employees gathered in Las Vegas will handmake 500 fleece blankets for local foster children. The blankets will then be donated to Clark County (Nev.) Department of Family Services and Foster Kinship, a Las Vegas-based non-profit. The volunteers will also craft 100 smaller blankets to be donated to the Las Vegas SPCA for animals waiting for their forever homes. The remaining fabric will be donated to volunteer quilters who sew garments for local homeless youth. The 500 blankets will be part of the supply package for recently appointed guardians to gift to the child upon arrival, helping them feel welcome during their critical adjustment phase. The fleece fabric used for the blankets is adorned with children’s characters and
Pyramid Analytics Formalizes US Federal Business Practice5.10.2022 21:04:00 CEST | Press release
Pyramid Analytics (Pyramid), a pioneering decision intelligence platform provider, today announced a new business practice dedicated to the specific needs of U.S. federal agencies. Led by a team of experts with a deep background in the federal market segment, Pyramid’s Federal Business Practice builds on the company’s success with federal agencies such as the U.S. Department of Veterans Affairs (VA) and strengthens its focus and commitment to providing the U.S. Federal Government and federal partners with sales, technical expertise, and services to deploy Decision Intelligence for strategic uses at scale. Key Points: Decision Intelligence enabled by AI and Machine Learning (ML) can modernize the delivery of critical public services, including healthcare, homeland security, and defense in the US federal market segment. President Biden’s Fiscal Year (FY) 2023 Budget proposes spending $65 billion on IT for civilian federal agencies and prioritizes IT Modernization, Cybersecurity, and Digi
Brijesh Jeevarathnam to Succeed Kelly Meldrum as Global Head of Fund Investments at Adams Street Partners5.10.2022 15:00:00 CEST | Press release
Adams Street Partners, LLC, a private markets investment firm with more than $50 billion of assets under management, announced today that Brijesh Jeevarathnam will be promoted to Partner & Global Head of Fund Investments. Jeevarathnam, who joined Adams Street as a Partner in Primary Investments in 2016, will also become a member of the firm’s Executive Committee as part of his new role. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221005005265/en/ Brijesh Jeevarathnam has been promoted to Partner & Global Head of Fund Investments of Adams Street Partners. (Photo: Business Wire) Jeevarathnam succeeds Kelly Meldrum, who is retiring after 17 years as a Partner & Head of Primary Investments at the firm. Meldrum will transition her duties at year-end and will make herself available through the end of Q1 2023. “Over her long tenure with Adams Street, Kelly has made innumerable contributions to the firm, not the least of which wa
NetWitness Launches White Hat Wednesdays Conversation Series5.10.2022 15:00:00 CEST | Press release
NetWitness: DATE & LOCATION: To register, visit the White Hat Wednesdays link here. Wednesday, October 19 at 11:30am ET Wednesday, November 16 at 11:30am ET More dates to be announced WHAT: NetWitness will be launching White Hat Wednesdays, a series of discussions exploring the latest cybersecurity threats enterprises face today, with the first session kicking off on October 19. Cybersecurity experts will share their personal experience regarding the evolution of today’s attacks and the steps incident response teams are taking to detect, mitigate, assess, and remedy these situations. The first topic will focus on threats to the financial industry and FIN13, a threat actor that targets this vertical. The discussion will include how these types of groups operate as well as what an attack on financial technology looks like. WHO: The following spokespeople and executives will be leading the discussions: Stefano Maccaglia, Practice Manager, NetWitness Incident Response Will Gragido, Head of