United Microelectronics to pay $60 million fine for trade secret theft

United Microelectronics Corp pleaded guilty to criminal trade secret theft charges and will pay a $60 million fine in exchange for cooperating with the U.S. government’s prosecution of China’s Fujian Jinhua Integrated Circuit Co., Ltd., the Justice Department said on Wednesday.

More than two years ago, the company, along with Fujian and three individuals, was indicted for conspiracy to steal, convey, and possess stolen trade secrets of U.S. semiconductor company Micron Technology Inc, according to the Justice Department.

The United States alleges Fujian, a state-owned enterprise, used those secrets to adjust designs for memory chips. Reuters