Daehan Cable Denies Allegations of Technology Theft from LS Cable

Daehan Cable has denied allegations of technology theft related to LS Cable, stating that the investigation's initial findings do not confirm any illegality or liability. In an official statement on May 28, Daehan Cable said it is currently verifying specific details regarding the investigation into its submarine cable Plant 1. The company asserted that it did not utilize or conspire to use any trade secrets from other companies during the construction of the plant.

Daehan Cable emphasized its commitment to clarifying the facts and legal issues in future judicial proceedings. The company noted that various specialized firms participated in the construction of the submarine cable plant, and it selected partners through proper procedures based on relevant experience and expertise. Daehan Cable argued that the mere fact that some participating firms had experience in previous projects does not imply that it acquired or used trade secrets from others.

The key issues at stake include whether the information in question qualifies as legally protected trade secrets and whether Daehan Cable obtained or used them improperly. These matters will require thorough legal examination and judgment in upcoming judicial processes.

In response to concerns about similarities in plant structure, Daehan Cable stated, "The construction of Plant 1 was based on a comprehensive consideration of our business plans, site conditions, production products, equipment specifications, and logistics flow." The company contended that common process flows or equipment layout elements in the industry do not necessarily indicate the use of another company's trade secrets.

Daehan Cable also clarified that the current issues are related to the construction of Plant 1 and are separate from the ongoing development of Plant 2 and the HVDC submarine cable project. The company assured that its existing operations, product manufacturing, delivery, overseas contracts, and future business initiatives are proceeding normally.

The possibility of significant damages claims was dismissed by Daehan Cable as an unfounded assertion. The company stated, "The actual liability and extent of damages will be determined through strict judicial scrutiny," adding that interpreting the reported amounts as guaranteed is an exaggerated interpretation.

Daehan Cable concluded by affirming its commitment to responsibly engage in the relevant procedures and indicated it would consider necessary actions against the spread of false or exaggerated reports that could significantly impact its business and shareholder value.