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SK Innovation’s stock price rebounded after losing in a lawsuit against LG Chem for infringement of trade secrets. This is because expectations for a settlement of a lawsuit have increased. In addition, the possibility of SK Innovation’s reflex profits as the fire problem of an electric vehicle equipped with LG Chem’s battery was raised is one of the reasons for the share price rise.
On the 17th, SK Innovation closed the transaction at 297,000 won, up 4.39%. After the US International Trade Commission (ITC) raised the hand of LG Chem in a lawsuit for infringement of trade secrets between LG Chem and SK Innovation, the stock price dropped by more than 4% from 296,000 won to 284,000 won. However, it rebounded on this day and returned to its place.
First of all, the negatives diminished as the results of this lawsuit increased the likelihood of an agreement between the two companies. This is the background that led the stock price to rebound as institutions and foreigners went to net buying.
In addition, rumors have circulated that electric vehicles equipped with LG Chem batteries will benefit from the fire as they are engulfed in controversy every day. This is the effect of the day before the news that the electric bus with LG Chem’s battery had a fire on the 15th. This bus was equipped with the same type of battery as the Hyundai Kona, which caused 15 fires. On this day, LG Chem closed the deal at 957,000 won, down 2.15%.
Some of the securities industry has even turned the theory that Hyundai Motor can change Kona batteries to SK Innovation batteries. This is because of the reason that successive fire accidents are burdensome for Hyundai Motors ahead of the launch of Ioniq 5, the first electric vehicle platform vehicle. An official in the securities industry explained, “There are talks that the LG Chem battery in Kona can be replaced with SK Innovation batteries,” and “However, considering the production volume of SK Innovation, the possibility is not high.”
Reporter Yoon Sang Ko [email protected]
Reporter Yoon Sang Ko [email protected]
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