LG Energy Solutions, which won the US International Trade Commission’s (ITC) lawsuit for infringement of electric vehicle battery trade secrets, raised the level of pressure on SK Innovation with an agreement on the 11th.
LG Energy Solutions held a conference call this afternoon and said, “The request for a 10-year ban on importation and production and sale of SK Innovation products in the US was 100% accepted by the US International Trade Commission (ITC). It was confirmed by this verdict.
After winning the ITC lawsuit, LG Energy Solutions urged immediate negotiations with SK Innovation.
LG said, “We tried to talk with SK Innovation several times, but we did not acknowledge the infringement of trade secrets, and in this part, we encountered difficulties in negotiations.” “I have to do it.”
According to the US Federal Protection Act, it is possible to receive punitive damages up to 200% of the amount of damages.
LG said in a conference call that day, “It is difficult to say that the damage caused by SK Innovation’s technology takeover and use is limited only to the United States.” It depends.”
He stressed that the specific amount of negotiations depends on SK Innovation’s negotiating attitude.
The conference call was attended by Woong-Jae Han, Executive Vice President of LG Energy Solutions’ Legal Dept., Seungse Jang, Executive Vice President of Management Strategy, and Hwan-Doo Seong, Executive Vice President of External Cooperation.
Global Economic Reporter Kwon Jin-an [email protected]