RANT: China's tech theft, now done with $$$!

Image by Getty Images via Daylife

Everybody knows Kia and Hyundai, but anybody knows Ssangyang? They are actually the fourth largest automaker in Korea. And they were just MUGGED by the Chinese, done with money, rather than espionage.

Ssangyong Motors, a minor Korean car maker (4th in Korea), was in financial trouble in 2005, and when Shanghai Motors (yes, from China), also known as SAIC, offered a financial deal, that they will establish a co-op venture in China, and take 51% stake of Ssangyong. The Koreans were very skeptical. It is clear that China wants the tech (SsangYang has hybrid tech, among other stuff that Shanghai motor doesn't), not the employees.

The deal was rammed through, with some promises that no one will be laid off. However, after the deal went through, and the plant was indeed established in China, but this also lead SAIC gaining access to ALL technology and researched made by Ssangyong Motors, including the hybrid tech. With no executive board input, the two company networks are linked, and as a result, virtually everything in the Ssangyang network was copied.