SEPTEMBERASIA BUSINESS OUTLOOK9TSMC TRADE SECRETS THEFT: TAIWAN CHARGES 3 IN IP CASENEWSROOMTaiwanese prosecutors have charged three individuals in a major trade secrets theft case involving Taiwan Semiconductor Manufacturing Co. (TSMC), the world's leading chipmaker.Authorities allege that a former TSMC employee, who later joined Tokyo Electron, persuaded ex-colleagues to share confidential semiconductor technology. The prosecutor's office is seeking a 14-year prison sentence for the ex-employee and at least seven years for the two others charged. The stolen information was reportedly intended to help Tokyo Electron improve its etching equipment and gain certification for 2-nanometer chipmaking processes, a highly competitive frontier in semiconductor manufacturing.Tokyo Electron is one of the world's largest chip equipment suppliers, alongside Applied Materials and Lam Research, and works closely with major chipmakers including TSMC, Samsung, and Intel.This case underscores ongoing risks to Taiwan's semiconductor industry. Similar incidents have occurred in the past: in 2017, former TSMC engineer Zhao was charged for attempting to transfer advanced process technology to Shanghai Huali Microelectronics, while in 2018, another employee surnamed Wu was indicted for trying to take 28nm process knowledge to CSMC Technologies in China.Industry analysts note that around 3,000 Taiwanese engineers now work in Chinese semiconductor firms, often in senior R&D roles, reflecting a pattern of talent migration and knowledge leakage. The latest case highlights vulnerabilities in the global semiconductor supply chain, showing how supplier relationships can become security risks. Experts warn that chipmakers must strengthen protections not only for internal staff but also for external partners with access to sensitive data. Wagely, a Jakarta- and Dhaka-based earned wage access (EWA) platform, has achieved profitability after disbursing over US$120 million in wages since its launch.To date, the company has processed more than 3.5 million wage transactions with a loss rate of under 0.5 percent, underscoring the resilience of its payroll-integrated model. Wagely partners with over 200 employers in Indonesia, including major corporations such as Adira Finance, British American Tobacco, and OCS, enabling more than 1 million workers to access their earned wages before payday. Unlike traditional lending, Wagely's model eliminates credit risk since withdrawals are tied directly to employees' already-earned wages.The platform recently expanded its offerings with budgeting and savings tools, further enhancing its role as a financial wellness solution. Beyond Indonesia, Wagely is exploring growth opportunities in Bangladesh, targeting a region where employee financial stress is a key workplace concern.The company's profitability comes as the broader EWA sector sees rising consolidation, such as Kredivo Group's full acquisition of GajiGesa, reflecting recognition of the model's sustainable economics. Research highlights that 73 percent of financially stressed employees are more likely to consider employers offering financial wellness benefits, while 46 percent of workers prioritize job opportunities that provide EWA.By positioning EWA as an employee benefit rather than a lending product, Wagely has built a recurring revenue stream and strong employer partnerships, cementing its place as one of Southeast Asia's leading financial wellness platforms. US DRAFT NOTICE LINKS INDIAN TARIFFS TO RUSSIAN OIL IMPORTS· Ex-TSMC employee accused of stealing secrets for Tokyo Electron· Case linked to 2nm chip technology certification and etching tools· Highlights supplier-related risks in semiconductor IP security· Wagely disbursed $120M across 3.5M wage transactions· Partners with 200+ employers, serving 1M+ workers· Expands with budgeting tools and Bangladesh market entry
< Page 8 | Page 10 >