Apr.12.2021: SK, LG agree on last-minute deal

K-News Bulletin

English - April 12, 2021 01:00 - 3 minutes - 2.32 MB
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LG Energy Solution and SK Innovation agreed to settle the high-profile battery trade secret dispute at 2 trillion won ($1.8 billion), putting an end to a 713-day legal fight that was hampering both firm's battery business amid a global electric vehicle (EV) boom.

The two companies came to a last-minute agreement Sunday morning, a day ahead of the April 11 presidential review deadline to overturn the U.S. International Trade Commission (ITC) ruling which effectively banned SK Innovation from its EV battery business in the United States for the next 10 years.

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Full Article: https://koreajoongangdaily.joins.com/2021/04/11/business/industry/lg-energy-solution-sk-innovation-battery/20210411182600476.html