Trade secret misappropriation litigation against the Korean steelmaker, POSCO

In April 2012, Nippon Steel & Sumitomo Metal Corporation (NSSMC) filed a lawsuit against POSCO, the leading Korean steelmaker, alleging that NSSMC’s important trade secrets for the technology of manufacturing Grain-Oriented Electrical Steel (GOES) were stolen by POSCO.  NSSMC successfully settled with POSCO, which paid 30 billion yen to NSSMC in September 2015.