SK Innovation says LG offer to resolve dispute needs to protect U.S. business

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South Korean battery maker SK Innovation Co Ltd said on Thursday it will not accept any proposal by rival LG Energy Solution to resolve a U.S. legal feud that would cripple SK's business in that country.

FILE PHOTO: The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. REUTERS/Kim Hong-Ji/File Photo

SK Innovation and LG Chem’s wholly-owned battery division LG Energy Solution have been locked in a dispute over claims SK misappropriated trade secrets related to electric vehicle battery technology. SK has received proposed terms, including financial reparations, from LG for a settlement, a person familiar with the situation told Reuters.

The ITC ruling against SK, which supplies electric car batteries to Volkswagen, Ford Motor Co and Hyundai Motor Co among others, can also be overturned by U.S. President Joe Biden.

 

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