The government has decided to enact a law requiring government approval when domestic companies intend to sell or transfer advanced technologies and core skills to other nations.
Officials said Saturday that the law is aimed at protecting critical technologies especially pertaining to information and semiconductors to retain national competitiveness in the global market.
The government will first draw up the list of valued technologies and skills which would hurt national security and competitiveness, and cause possible damage to local industries when sold to overseas competitors.
The envisaged law would also offer a reward of up to 100 million won or some 87,000 U.S. dollars to those who report illegal transfers of core technologies.
Officials say the legislation is to be broadly applied to include universities, private research institutes as well as companies.