Cho Seong-wook Visits Auto Parts Company: "Will Strictly Respond to Technology Misappropriation with a Zero-Tolerance Policy"

Meeting with Small and Medium Enterprises

Jongwook Cho, Chairman of the Fair Trade Commission. (File photo)

[Sejong=Asia Economy Reporter Joo Sang-don] Cho Sung-wook, Chairman of the Fair Trade Commission, stated on the 2nd, "We will strictly respond with a zero-tolerance policy to technology misappropriation acts that completely steal companies' technological development efforts and threaten national competitiveness."

On this day, Chairman Cho visited Linno Aluminum, an automobile parts manufacturer located in Ulsan, toured the production site, and held a meeting with representatives of small and medium-sized enterprises, expressing these remarks.

Chairman Cho said, "Currently, the automobile industry is rapidly undergoing a paradigm shift toward future vehicles such as electric, hydrogen, and autonomous cars. It is more important than ever to secure continuous growth engines through our companies' relentless technological development and innovation efforts."

The Fair Trade Commission recently strengthened protection measures for technical data by amending the Subcontracting Act to require subcontractors to sign confidentiality agreements when providing technical data to the original contractors.

Chairman Cho added, "Even trade secrets can be subject to court-ordered data submission, reducing the burden on victim companies to secure evidence during litigation. We will also focus on inspecting unfair practices that exploit the disadvantaged position of subcontractors in exclusive trading relationships."

This content was produced with the assistance of AI translation services.