Daehan Cable Denies Allegations of Technology Theft from LS Cable

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

Daehan Cable stated that various specialized firms participated in the construction of the submarine cable plant, and it selected partners through proper procedures based on their relevant experience and expertise. The company argued that the mere fact that some participating firms had prior project experience does not imply that Daehan Cable acquired or used another company's trade secrets.

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 future judicial proceedings.

In response to concerns raised about similarities in the plant's structure, Daehan Cable countered that the submarine cable plant was constructed considering its business plan, site conditions, production products, equipment specifications, and logistics. The company asserted that common process flows or equipment layouts in the industry do not necessarily indicate the use of a specific company's trade secrets.

Daehan Cable noted that the current issues are related to the construction of the submarine cable plant and are separate from the ongoing development of its second submarine cable plant and HVDC submarine cable projects. The company emphasized that its existing operations, production, delivery, international 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 that the actual liability and extent of damages will be determined through strict judicial scrutiny, and viewing the reported amounts as guaranteed is an overinterpretation.

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