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China Uses High Salaries to Lure High-Tech Talent Away from South Korea

On June 8, Duowei News reported that South Korean media revealed how Chinese companies are “systematically” luring industrial talent away from South Korea. The losses has reached a very serious level. South Korea seems helpless in the face of such a situation.

According to a report from South Korea’s Asian Economy, many Koreans with technical talent, from the cosmetics, the food and other basic necessities field, to information and communications, semiconductors, biotechnology and other cutting-edge areas, are jumping ship voluntarily and succumbing to the temptation of Chinese enterprises’ high salaries.

In particular, many Koreans with talent are helping China’s semiconductor industry to rise. It has made the Korean government and the industry very nervous. Although the Korean government has deployed investigative teams to prevent the domestic semiconductor cutting-edge technology from leaking, it has not yet found an effective way.

It is reported that China’s semiconductor companies attract South Korean talent with 3 to 10 times the annual salaries that Korean companies offer, in addition to housing and cars as well as a commitment to solve their children’s education related issues.

Source: Duowei News, June 8, 2017