(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] A major domestic defense contractor is under police investigation for allegedly stealing technology for life-saving transmitters from a small company, resulting in profits of tens of billions of won.

On the 28th, the Gyeonggi Nambu Provincial Police Agency’s Industrial Technology Security Investigation Unit announced that it has booked Company A and related personnel on charges of violating the Unfair Competition Prevention and Trade Secret Protection Act. They recently conducted a raid and seizure operation.

The transmitter in question is designed to send an accurate location signal during maritime distress situations to facilitate quick rescues. Company A is accused of copying the technology developed by the small defense contractor Company B to create a similar product, which they then supplied to the Coast Guard, reaping profits worth tens of billions of won.

A police spokesperson stated, "We conducted a raid and seizure operation in relation to the allegations and are currently analyzing the seized materials."

 

 

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