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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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