OpenAI to Preview GPT-6 Cyber AI Model for Cybersecurity 
Airbus Finds A321neo Fuselage Quality Issue 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Tesla Semi Rollout Begins at Nevada Factory 
Costco Revenue Beats Estimates as Inflation Drives Bulk Shopping 
Former OpenAI Data Center Chief Chris Malone Joins Nvidia 
US Northeast Airports Resume Operations After Telecom Outage Disrupts Thousands of Flights 
Apple Extends Qualcomm Patent Licensing Deal 
Select Water Solutions Shares Surge on $700 Million Pilot Water Deal 
BlackBerry Shares Rise as Q2 Earnings, Revenue Beat Estimates 
China Vanke Shares Jump as Beijing Moves to Ease Debt Pressure 
Meta Connect Spotlights Camera-Free Smart Glasses Amid Privacy Concerns 
Jeff Bezos Invests $32 Billion in Blue Origin as Space Firm Targets Major Growth 
Meta Unveils Muse Charm AI Device, Expands Smart Glasses Lineup 
Novo Nordisk Weighs Direct NYSE Listing to Boost U.S. Profile 
Anthropic’s Claude Discovers CRISPR-Like Enzyme System 
US Backs Musk in Fight Against EU’s €120 Million X Fine 
Add as a preferred source on Google
LG Chem will not let SK Innovation get away from its responsibility as the company vowed to make its rival pay compensation that is rightfully due to them. This is in connection to the patent dispute where the U.S. International Trade Commission affirmed that SKI indeed stole LG’s battery technologies.
LG Chem’s official demand from SKI
On March 25, LG Chem’s chief executive officer and vice-chairman, Shin Hak Cheol, vowed to get proper compensation from SK Innovation for the violation it committed against them. He is apparently demanding for its rival company to do what it was supposed to do after losing in their battery patent dispute.
The USITC already repeatedly confirmed that SK Innovation misappropriated 22 of LG Chem’s trade secrets while developing its own batteries for electric vehicles. The agency slapped SK with a 10-year import ban to the U.S. and other countries.
Then again, the commission gave a special permit for the company to supply car parts to Volkswagen and Ford for four years. The given time is to allow the affected automakers to look for another supplier as SK will not be able to for the duration of the ban.
SK’s response to the ruling
Now, since the USITC handed down its verdict, SK Innovation did not approach LG to arrange for the compensation that was included in the order. Rather, the company did everything it can do to reverse the ruling and to the extent of making an appeal to US President Joe Biden since he has the power to overrule the decision.
LG’s chief Shin Hak Cheol expressed disappointment over SK Innovation’s actions. He said he regrets SK’s refusal to accept the ruling and instead urging officials to dismiss USITC’s decision.
“The extent of details the U.S. International Trade Commission (ITC) went through to describe SK Innovation’s misdeeds underscores how gravely it had found their transgression in business secrecy,” Pulse News quoted Shin as saying on Thursday.
He added, “Respecting a rival’s intellectual property rights such as trade secrets is a basic principle we must uphold at a time when the environmental, social and governance (ESG) strategy has become high priority.”
Finally, Shin said that LG Chem can’t easily let go of this case against SK Innovation because the company believes in fair competition which everyone in the industry should respect and abide by. He added that this case is very serious as it involves violations to trade secrets so offenders must properly atone for their wrongdoings.
