LGD probes alleged corporate spying at HQ
[THE INVESTOR] LG Display recently conducted an investigation to spot corporate spying at its headquarters in Seoul amid increasing worries over leakage of critical information on cutting-edge technologies, including OLED, according to news reports on Sept. 28.
During the probe, security officials reportedly carried out a search for eavesdropping devices in meeting rooms and offices after business hours. They, however, found no evidence.
The latest move came as in recent weeks confidential information was leaked in almost real time from its head office.
“LGD seems to be really concerned about security after what was discussed at meetings between C-level executives was leaked many times recently,” an insider was quoted as saying by local news outlet The Bell.
“It may suspect that there were some eavesdropping devices implanted in the meeting rooms or offices,” the insider added.
There have been rising concerns in the local display industry over leakage of corporate information, especially to Chinese companies which are eyeing to catch up with Korean display manufacturers in the OLED segment.
Chinese display makers are competitively hiring former executives and employees of LGD and its crosstown rival Samsung Display to speed up their projects for OLEDs.
“One of the biggest concerns for LGD is the ongoing outflow of executives and engineers with crucial knowhow and knowledge in display technologies to Chinese firms like BOE,” an industry official said.
LGD denied the news reports on the investigation.
The Seoul-headquartered firm supplies smartphone LCDs and OLEDs for TVs for global tech companies. It is a top OLED TV panel maker with its global market share reaching 70 percent. Its customers for the large-sized OLED panel include Sony, Panasonic and Philips.
The Korean display maker is also trying to expand its foothold in the smartphone OLED segment. It has recently been picked as a secondary OLED panel supplier for Apple’s latest iPhone Xs and Xs Max with Samsung Display being the main supplier.
Apple has been utilizing LGD’s LCDs for some of its iPhone models.