South Korea's Kolon Industries Inc. on Friday welcomed a U.S. court ruling for a retrial of a US$920 million case with DuPont Co. over an alleged trade secret theft.
"It is a meaningful ruling that accepts our argument that evidence and testimonies in favor of Kolon were wrongfully ruled out in the first trial," a company official said. "We hope for an objective and fair outcome in the retrial."
DuPont, the largest U.S. chemical firm by market value, had filed a lawsuit in February 2009 alleging its South Korean rival stole trade secrets for Kevlar, a type of aramid fiber used to make tires, fiber-optic cables and bullet-proof vests. It claimed that Kolon stole the technology by hiring one of its retired engineers.
Kolon denied the charges, arguing that DuPont has made public the details about Kevlar for a long time and started an antitrust suit against the U.S. company just months later.