“Battery lawsuit is embarrassing” Prime Minister reprimanded LG·SK “best effort in smooth resolution”

Input 2021.01.28 16:29 | Revision 2021.01.28 17:25

Prime Minister Chung “Battery Litigation Shame”
LG·SK “The best for a smooth solution”
It’s business-to-business… Criticism of’necessary involvement of political power

When Prime Minister Jeong Sye-gyun expressed his concern on the 28th, saying “I’m ashamed” about the lawsuit for infringement of trade secrets in the US by LG Energy Solutions and SK Innovation, SK Innovation said, “We will do our best to solve it smoothly.”

Ji Dong-seop SK innovation (096770)“SK Innovation is focusing on fostering the battery industry because it believes that the battery industry can not only drive the company’s growth, but also contribute greatly to the development of the national economy and related industrial ecosystems with the’second semiconductor’.” “In the meantime, LG Chem (currently LG Energy Solutions) has filed a lawsuit for infringement of trade secrets, and it is entering its third year since the lawsuit began.”

CEO Ji said, “Even though we have been sincerely engaged in all the lawsuits so far, we are very sorry to the people for not being able to resolve them smoothly.” “I have.” He added, “We will do our best to ensure that such public concerns and wishes are well recognized and can be resolved smoothly through cooperative and constructive dialogue efforts with conflicting partners.”

LG Energy Solutions also said on the same day, “We are doing our best to reach an agreement before the final judgment,” and “However, until recently, SK Innovation’s proposal has not been willing to negotiate at all.

The two companies are arguing over the infringement of battery trade secret patents at the US International Trade Commission (ITC). The final judgment will be issued on the 10th of the following month (local time). ITC has accepted and is reviewing the objection after SK Innovation’s ruling over early defeat.

Earlier, Prime Minister Chung asked, “Is the government directly willing to go to a lawsuit related to battery patents held by LG and SK overseas” at a discussion meeting at the Korean Artists Center in Mok-dong, Yangcheon-gu, Seoul. “We have to solve the problem,” he replied, “If both companies fight, only others do good things.”

Prime Minister Jeong said, “LG and SK are representative companies in Korea, and they have been litigating in the United States for 3 years,” and said, “Only the litigation costs amount to hundreds of billions of dollars.” He pointed out that “the US politicians are also telling us to go ahead and solve it.”

“I talked to the chief executives of both companies, met them, and asked me to solve it quickly, saying,’Isn’t it embarrassing, is it because I’m worried about the people?’

Prime Minister Jung said, “The future will be wide open for K-Battery, but I hope that we will quickly create a situation where we will not fight over small pies, but actively advance toward the large global market.”

Some of the business circles are also criticizing that “the politicians are unnecessarily intervening in the trade secret lawsuit between companies and are giving hunks” As the importance of corporate intellectual property rights increases, related lawsuits are on the rise worldwide. This is because if the government intervenes, it will be difficult to protect corporate intellectual property rights. A business official said, “In the era of global management, intellectual property rights are the biggest asset and weapon of a company. In advanced countries such as the United States, companies are fiercely filing lawsuits, cooperating with each other, and growing business.”