Four people indicted for trying to sell air-conditioning secrets to China

SEOUL, Aug. 9 (Yonhap) -- Seoul prosecutors said Sunday that they have indicted
four people for trying to illegally sell confidential air-conditioning related
information to China.
Investigators said the stolen information related to the manufacturing of the
best selling Whisen air-conditioners and could have cost LG Electronics 120
billion won (US$97.6 million) worth in damages.
LG, the largest air-conditioning manufacturer in the world, spent an estimated 20
billion won to develop the technologies that include special nano-powders,
hightech coating techniques and processing procedures that remove moisture from
inside the air-conditioners.
Of the four people who allegedly tried to ship out the industrial secrets, two
from a venture-tech company have been arrested for violating laws governing
industrial secrets and unfair trade, while two others from a China-based company
have been indicted without being detained.
Those that have not been detained, tried to ship out floor plans for an LG
air-conditioning plant.
Prosecutors said they plan to work with other law enforcement agencies to ferret
out other possible industrial espionage that can undermine national
competitiveness.
yonngong@yna.co.kr
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