LG pressured to “proactively enter into agreement”… SK to respond with “I will correct ITC results”
Input: 2021.02.13 21:03
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LG and SK pressured after winning trade secret lawsuits… SK hopes to veto the US president
LG Energy Solutions, which won the US International Trade Commission’s (ITC) lawsuit for infringing electric vehicle battery trade secrets, raised the level of pressure on the 11th, saying that the prerequisites for SK Innovation’s future business are agreed with the company.
SK Innovation expressed regret for the ITC decision, saying that it was not properly revealed whether or not the issue of trade secret infringement was infringed, and announced that it would aggressively force US President Joe Biden to exercise his veto.
LG Energy Solution said in a statement issued after the ITC announced the final decision, “It was acknowledged that SK Innovation took over its trade secrets and used them illegally in a wide range of areas, and that there was economic damage.” The preliminary decision to lose the early resulted in the final decision.”
LG Energy Solutions said, “This decision has great significance that intellectual property rights accumulated through investment of tens of trillion won over 30 years have been legally protected.” “Remembering that trade secrets as well as patents are very important in the battery industry. It will be an important opportunity to protect the technology of domestic companies and strengthen the competitiveness of the Korean battery industry.
To SK Innovation, he said, “I urge you to actively end the lawsuit as soon as possible by stopping the act of distorting the litigation situation and humbly accepting the final ITC decision and making a proposal that matches it.”
“If you do not present an agreement that corresponds to the infringement of trade secrets and convinces shareholders and investors, based on the final ITC victory result, you will have no choice but to resolutely engage in litigation at home and abroad,” he said. Action” he added.
LG Energy Solutions also held a separate online press conference, saying, “Because SK will certainly have difficulty in winning orders in the future without resolving our damage compensation, we can continue our business in the future only if we negotiate with a forward and sincere attitude.” Revealed.
Additional lawsuits related to trade secret infringement in other regions, such as the US and Europe, are also possible, but the position of LG is that it is entirely up to SK’s sincere attitude to file a lawsuit.
SK Innovation said in a position statement, “Since ITC unanimously made a full review decision on its early loss, it made its best efforts to explain it. However, it is regrettable that ITC did not have an opportunity to make a substantial judgment on whether or not the trade secret is infringed. “He said. SK claims that the trade secret was not covered up properly, but lost because of a procedural problem.
SK said that it expects US President Joe Biden to exercise his veto power. The deliberation period for the US President to veto the ITC decision will be 60 days.
SK Innovation emphasized, “We will do our best to correct ITC decisions through the remaining procedures such as the president’s review,” and “We will closely analyze the contents of the ITC decision and respond more actively to established procedures such as appeals in the future and cover the truth.”
SK said, “SK battery is the’safest battery in the world’ that has never experienced a stability problem for more than 10 years,” aiming at the occurrence of a fire in an electric vehicle equipped with an LG Energy Solution battery. “This is emphasized to US companies and consumers. I will do it.”
“There is an economic effect of investing up to 5 billion dollars in battery factories under construction in Georgia, and creating up to 6,000 decent jobs. If this factory is shut down, the damage is not limited to SK “We will actively convey that we have no choice but to extend to the whole of Georgia and even the US economy and society.”
SK Innovation said, “It will be possible to establish and operate factories in the United States on a limited basis during that period,” saying that ITC had a grace period for importing batteries and parts for electric vehicles for Ford and Volkswagen in the US. “We will do our best to protect the rights and interests of these customers. “I said.
Regarding the settlement of compensation, he said, “We will negotiate anytime if it is reasonable,” he said. “Let’s end the lawsuit early and cooperate for the development of the industrial ecosystem and the national economy.”