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Over half of Korean firms in Vietnam suffered technology theft: KIET

Published: 02 Dec. 2024, 18:30

This pie chart provided by the Korea Institute for Industrial Economics & Trade shows the percentage of Korean companies operating in Vietnam that have experienced technology leaks or threats by their employees. [YONHAP]

More than half of all Korean companies operating in Vietnam have experienced technology theft by their employees this year, a state-funded research institute said Monday.

The Korea Institute for Industrial Economics & Trade (KIET) conducted a poll of 335 firms that have business operations in Vietnam during the July-October period to look into the Southeast Asian market's business environment.

Nearly 55 percent of the companies said they "have experienced technology leaks and threats" by foreign and Korean employees, rival companies and others in the country, the KIET survey showed.

The ratio was up sharply from the 34.6 percent reporting such issues in the country's third-largest trading partner last year.

Of those who stole technologies and made threats, non-Korean employees accounted for 28.3 percent, followed by partner firms and rival firms at 22.1 percent each and Korean employees at 20.4 percent.

By industry sector, most automobile and component companies, along with 42.9 percent of petrochemical firms, said foreign employees were involved in technology leaks.

In contrast, 40 percent of semiconductor companies said Korean workers stole their technologies and blackmailed them.

More than 50 percent of the companies pointed to a lack of security in personnel and document management as the main cause of technology leaks.

The institute said the companies need to strengthen their own security measures, and the government needs to provide systemic support, such as technology protection guidelines, security system consulting services and a guidebook that assists companies in case of international legal disputes.

Yonhap