Indictment details plan to steal Samsung secrets for Foxconn China project

[1/3] The logo of Samsung Electronic is seen at its headquarters in Seoul, South Korea, April 4, 2016. REUTERS/Kim Hong-Ji/File Photo SEOUL, June 27 (Reuters) – When former Samsung executive Choi Jinseog won a contract with Taiwan’s Foxconn in 2018, he tapped his former employer’s supplier network to steal secrets to help his new client set up a chip factory in China, a sealed indictment by South Korean prosecutors alleges. Prosecutors announced the indictment on June 12, saying the theft caused more than $200 million in damages to Samsung Electronics (005930.KS), based on the estimated costs Samsung spent to develop…