SEOUL, South Korea — Seven current and former employees of the Hyundai-Kia Automotive Group have been indicted over alleged technology leaks to Chinese automakers, prosecutors said Thursday.
Five former Hyundai-Kia employees working at an auto-consulting firm in Seoul allegedly obtained core technology for the manufacture of a sports utility vehicle and a new car codenamed "HM" from two current Hyundai-Kia employees, the Suwon District Prosecutors' Office said in a statement.
They allegedly leaked the technology to a Chinese carmaker in return for 230 million won ($249,000), the statement said. They also allegedly tried to leak technology to another Chinese automaker, prosecutors said.
Prosecutors said the alleged wrongdoing took place last year.
All seven have been charged with violating laws that protect business secrets and guard against unfair competition, the statement said. Six were also charged with breach of trust.
If found guilty, the accused potentially face up to 10 years in prison, the prosecution statement said.
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