Ex-Samsung Elec executive indicted over alleged data theft for China factory

executive on Monday on suspicion of stealing the company's technology to build a chip factory in China.as a vice president, is accused of illegally acquiring Samsung data to build a factory in the northwestern Chinese city of Xian between 2018 and 2019, the Suwon District Prosecutors' Office said in a statement.The defendant, arrested last month, is denying the allegations, a prosecutor said.

The attempt to build the new plant using Samsung data, however, ended in failure due to funding issues, a prosecutor said. Prosecutors said they estimated the theft of the data to have inflicted at least 30 billion won worth of losses on Samsung Electronics.

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