Revising Act on Prevention of Divulgence and Protection of Industrial Technology
21 Feb 2020
On 21 February 2020, the revised Act on Prevention of Divulgence and Protection of Industrial Technology came into force. This revision tightens the procedure for foreign M&A on national core technology. The key points include among others:
- The revision requires any foreign M&A related with national core technology to get prior approval from the government. In the past, foreign M&A related with national core technology only had to be registered.
- The institutions which had received government support for R&D have to get prior approval before they intend to export the national core technologies to foreign entities.
- The institutions which had received government support for R&D have to get prior approval even when there is any possibility that the national core technology may be indirectly divulged to foreign countries through foreign M&A.
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Type:
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Entry and establishment (Approval and admission)
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Industry:
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Manufacturing (Manufacture of computer, electronic and optical products, and electrical equipment)
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Services (Scientific research and development)
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Sources:
