Proposal of LG Energy Solution “Let’s directly check evidence of infringement of SK, ITC trade secrets”

Input 2021.03.26 16:22

On the 26th, LG Energy Solutions suggested to SK Innovation to check the list of trade secrets and evidence contained in the US International Trade Commission’s (ITC) trade secret infringement ruling on the 26th.

At a general shareholders’ meeting this morning, SK Innovation admitted that “ITC is not clear what the trade secret is, but because of the lack of document management, it did not judge the facts about the infringement of trade secrets, the essence of the case, and made ambiguous claims of competitors. It is interpreted as a refutation according to the claim that it was quoted.

LG Energy Solutions said, “It is a pity to deny the clear judgment of ITC and mislead even the specific facts.” It is suggested that both companies directly check the evidence related to the list.”

The evidence is currently only available to the representatives of both companies and can be checked directly if both companies agree.

According to LG Energy Solutions, in the final judgment released on the 5th, ITC stated that the company-wide destruction of malicious evidence was carried out under the orders of a high level of SK Innovation, and the corporate culture of data collection and destruction is rampant. In addition, despite the destruction of malicious evidence, he ruled that 22 infringements were clear, saying that the infringement of trade secrets was probable and concretely presented based on the data remaining in LG Energy Solutions.

LG Energy Solutions explained, “In particular, the level of verification of LG far exceeded the level required by the US court in the previous case, and a list of specific categories was also disclosed. Based on this, the ITC issued a 10-year import ban. , Nevertheless, it is very unfortunate that it has not yet acknowledged the contents of the ITC judgment and mislead even the specific facts.”

At the same time, “respecting intellectual property rights such as trade secrets of competitors in the global ESG (environmental, social, governance) management stance is fundamental to business operation, and the role of the board of directors is to manage and supervise the company’s compliance issues for this purpose. Despite this, it is also unfortunate that the loss factor is recognized only as inexperienced in global disputes. “This lawsuit is not just a matter between the two companies, it is a measure of how important intellectual property rights act as an important international competitiveness in the battery industry, which is the future growth engine. “It will be the touchstone to do.”

As the deadline for the US presidential veto on ITC decisions is approaching about two weeks in the future, the two companies are continuing their battle at the shareholders’ meeting. At the LG Chem shareholders’ meeting on the 25th, vice-chairman Shin Hak-cheol said, “I will take strict measures so that I can receive reasonable compensation.” I can’t,” he refuted.

ITC raised LG’s hand in a battery business secret infringement lawsuit filed by LG Energy Solutions against SK Innovation last month. If the U.S. President does not veto ITC decisions by the 11th of next month, SK Innovation will be banned from producing and importing batteries in the U.S. for 10 years, except for Volkswagen and Ford, which received a grace period of two and four years.