The US Justice Department on Thursday charged a Chinese state-owned firm Fujian Jinhua Integrated Circuit Co and its Taiwan partner United Microelectronics Corp for allegedly stealing trade secrets from the US.’s largest memory-chip maker, Micron Technology Inc, Wall Street Journal has reported.
The trade secrets are valued at about $8.75 billion.
Idaho-based Micron estimated to be worth $100 billion, controls about 20 to 25 per cent of the dynamic random-access memory (DRAM) industry, a technology not possessed by the Chinese until very recently.
As per the Justice Department, a former Micron employee in Taiwan joined United Microelectronics Corp (UMC) in 2015 and also recruited two others to join him.
Three of them are alleged to have connived to bring Micron’s trade secrets with them. Later UMC partnered with Jinhua, where they developed the same technology. All the three Taiwanese have been charged. Read more