Nippon sues POSCO for alleged illicit acquisition of technology

Japanese steelmaker Nippon Steel Corporation (NSC) has announced that it has filed a civil lawsuit at Tokyo District Court against South Korea-based steel producer POSCO and its Japanese subsidiary, POSCO Japan Co., claiming that POSCO has illicitly acquired and used NSC's trade secrets regarding grain-oriented electrical steel sheet technology.
 
NSC stated that it had earlier sent warnings and requests to POSCO alleging misappropriation of NSC's intellectual property rights; however, as it was unable to  achieve a resolution of the issue, it has resorted to legal procedures, seeking compensation for damages and an injunction against the manufacture and sale of the abovementioned products by POSCO.
 
NSC has likewise filed a lawsuit in the United States against POSCO and its US subsidiary, and also against a former employee alleged to be involved in illicit use and acquisition of technology.