Bio firms raising alert over vaccine tech theft

The Korea Biotechnology Industry Organization (Korea Bio) is issuing warnings against practices by Chinese entities attempting to steal technology vital to COVID-19 vaccines amid the pandemic, reported The Korea Herald.

Concerns are growing as governments and private companies are rushing to secure patented technology on developing vaccines, some of which are willing to engage in "illicit activities" to acquire key data, the news source said.

Korea Bio alerted its 400 member firms last Friday about the ongoing offense against mRNA vaccine-related biotech companies in the country by unspecified third parties.

The organization said member companies have become the primary targets for tactics to obtain their trade secrets, including "poaching" employees by offering a significantly higher level of pay.

Technology theft has also taken place through cyberattacks "by entities located overseas" and "phony offers from paper companies," the news source said, adding that Korea Bio has warned members to take precautionary measures.

According to the news source, the cyberattacks began in the latter half of last year via malicious emails, ransomware and attacks on websites. The organization said key documents containing technological secrets have been stolen through cyberattacks.