Daejin Advanced Materials Indicted Despite No Involvement in 'Technology Leakage'... "Excessive Investigation Ignores National Economy, Strong Regret"

Global advanced materials company Daejin Advanced Materials expressed strong regret on November 7, stating, "It is a clear case of excessive investigation and an unfair decision to indict the company without detention, treating an unrelated company as if it were involved in a crime, solely due to the former CEO's case during the prosecution's recent 'technology leakage' investigation."

Daejin Advanced Materials pointed out, "The technology in question by the prosecution has no connection whatsoever to the technologies we currently produce or possess," and added, "It is legally unacceptable to indict a company unrelated to the case based solely on the major shareholder’s equity relationship." The company strongly criticized, "The prosecution’s decision to indict the corporation due to the former CEO’s past position is a typical example of the abuse of the 'dual punishment provision.'"

The company further stated, "We have fully cooperated transparently with all requests from investigative authorities, and we have already submitted official documents proving that the so-called 'leaked technology' claimed by the prosecution is completely different from our technology in terms of content, scope, and function." The company added, "We have not gained any unfair profit from this case; on the contrary, our corporate credibility and business foundation have been severely damaged due to this baseless investigation."

In particular, Daejin Advanced Materials emphasized that this issue is not merely a problem for a single company, but one that directly impacts the international competitiveness of sound domestic manufacturing companies and the national economy. The company stated, "We are a leading export company, earning foreign currency in overseas markets such as the United States, Poland, and the Philippines with domestically developed technology," and criticized, "Undermining corporate activities with unfounded suspicions results in national losses and ultimately weakens the competitiveness of South Korean industry itself."

Finally, Daejin Advanced Materials stated, "We will reveal the truth based on law and evidence, and we are considering all possible actions, including legal measures, against distorted reports and speculative statements that differ from the facts." The company added, "We will fight to the end to protect the company’s honor and the livelihoods of hundreds of employees."