Seoul Semiconductor: Everlight Convicted of Misappropriation of Trade Secrets and Technology Seoul Semiconductor

ANSAN, South Korea – (BUSINESS WIRE) – Seoul Semiconductor Co., Ltd. (KOSDAQ 046890), one of the world’s leading LED products and technology companies, announced that Everlight Electronics (“Everlight”) was found guilty of misappropriation of trade secrets and technologies by the Suwon Korea District Court of Appeal. related to the business sector of Seoul Semiconductor.

The court imposed criminal penalties on Everlight, the maximum fine imposed on a foreign company for such an offence. Three former employees of Seoul Semiconductor (“Seoul”) who left the company to join Everlight were also sentenced to one to two years in prison with two to three years’ probation for misappropriation of trade secrets and technology.

Everlight and former Seoul employees have been charged with misappropriation of trade secrets and technology related to the Seoul business line by the Korean Prosecutor’s Office. The lower court found Everlight guilty of misappropriation of trade secrets, while the Court of Appeal upheld its decision, also finding Everlight guilty of misappropriation of technology related to Seoul’s industry.

Seoul is the leading LED company in Korea and ranked 3rd in the world. For 30 years, Seoul has been engaged in research and development with an extensive portfolio of patents and is at the forefront of second-generation LED technology. However, some global companies continue to purchase cheaper counterfeit products that violate Seoul’s technology and sell these products under their own brand name despite environmental, social and governance (ESG) claims.

“Intellectual property is the only tool that allows small businesses and entrepreneurs to survive and grow. Companies that steal these hard-earned technologies need to be forced out of the market,” said Chang Hong Lee, founder of Seoul Semiconductor.

About Seoul Semiconductor

Seoul Semiconductor is the world’s second largest non-specialized light emitting diode (LED) manufacturer with over 18,000 patents. Based on a differentiated product portfolio, Seoul Semiconductor offers a wide range of technologies and mass-produces innovative LED-based products for indoor and outdoor lighting, automobiles, computer products such as mobile phones, computer screens and other applications, and field work. UV products. The company was the first in the world to develop and mass-produce products that are becoming the LED industry standard and dominating the global market, including: Acrich, an alternative to high-voltage, current-driven LEDs; nPola, an LED with 10 times more power than conventional LEDs; SunLike, natural spectrum LED; Violeds, a state-of-the-art LED with UV cleaning technology; WICOP, LED without housing; incandescent LED emitting in all directions; And much more. For more information, visit www.seoulsemicon.com/en.

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Seoul Semiconductor Co., Ltd.
Jeanseop Jung

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Email: [email protected]