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LG won the'Electric Vehicle Battery Litigation' by LG Energy Solutions and SK Innovation in the United States.

The US International Trade Commission, ITC, has banned SK from exporting batteries and components to the US for the next 10 years.

The dispute between the two companies began four years ago when more than 100 LG employees moved to SK, and then LG filed a lawsuit in 2019, claiming that SK stole core business secrets and technologies.



There was a prospect that there would be an agreement in advance, but we ended up here, and reporter Han Sang-woo pointed out the outcome and impact of the lawsuit.



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US International Trade Commission (ITC) made an exception by banning the export of SK Innovation batteries to the US for 10 years.



Ford electric trucks already delivered for 4 years and Volkswagen in the U.S. for 2 years.



The decision will take effect immediately after 60 days, and if the agreement is reached or the veto by US President Joe Biden, the export ban will cease.



SK, which builds a large-scale battery factory in Georgia, is hoping for a presidential veto.



[Lim Soo-Gil/Vice President of SK Innovation: Up to 5 billion dollars will be invested in the Georgia plant, and I will make it clear that it can certainly contribute to the US economy.]



However, there is a possibility of vetoing disputes between foreign companies

.

Is low.



After all, agreement is the solution, but the problem is the amount of compensation.



The industry sees that the amount LG is asking for is trillions of won.



[Han Woong-Jae/LG Energy Solutions Legal Dept.: We admit punitive damages up to twice the amount of actual damages, and even for small trade secret infringements, we have ordered compensation worth hundreds of billions of won.]



SK to US suppliers As long as the grace period has been granted, the strategy is to negotiate regardless of time.



If the agreement is delayed, it will inevitably damage the image of the Korean battery industry along with astronomical litigation costs.



(Video coverage: Youngchun Oh, video editing: Hojin Kim)