Prime Minister 丁 intervenes in LG-SK battery lawsuit “If we fight, we only do good things”

Input 2021.01.28 12:16 | Revision 2021.01.28 13:30

“I urged the chief executives of both companies to solve it quickly.”
“Do not fight over small pies, actively enter the global market”

On the 28th, Prime Minister Jeong Sye-gyun said, “If the two companies fight, they only do good things,” he said, “it’s really embarrassing.” It expressed concern that Japanese and Chinese companies, which are rivals, could benefit from LG and SK lawsuits.

Prime Minister Chung said at the Broadcast Reporters Club debate held at the Korean Artist Center in Mok-dong, Yangcheon-gu, Seoul, when asked,’Is the government directly willing to go to lawsuits related to battery patents between LG and SK overseas?’

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 two companies need to step back and solve this problem quickly.” “K-battery will have a big future, but I hope that we will quickly create a situation where we will not fight over small pies, but actively advance toward the big global market. “He said.

Earlier, in April 2019, LG Chem filed a lawsuit against SK Innovation in the US International Trade Commission (ITC) and the Delaware District Court. The key to the lawsuit was that SK, a latecomer in battery, pulled out LG employees while also pulling out process technology that LG had secured. SK Innovation filed a counter suit, saying, “It was a voluntary job change as a company with good salary and welfare benefits, and there was no technology leak.” LG Energy Solutions is a company launched by the battery business division from LG Chem.

The lawsuit between the two companies also moved to the US politics. SK Innovation is building a battery plant in Georgia, USA. In October of last year, the Wall Street Journal (WSJ) published an article in the name of an LG Chem executive stating that “Trump should get out of the dispute in Korea”. It was a claim to become. It was written because it was possible for former President Trump to veto to protect US jobs. Prior to this, a WSJ columnist wrote a column to the effect that LG Chem should agree with SK Innovation before exercising the president’s veto.