LG Chem settling trade violation suit against SK Innovation
LG Chem is settling a trade secret violation suit against the SK Innovation and anticipates a resolution before October.
The US International Trade Commission (ITC) made a default judgment in favor of LG Chem in March, saying that SK Innovation had intentionally tampered evidence.
LG Chem accused SK Innovation of stealing trade secrets about lithium-ion batteries for electric vehicles by recruiting former LG Chem employees beginning 2017.
SK Innovation requested a review, and the ITC is expected to make a final decision in October.
An unfavorable decision against SK Innovation will force it to halt importing EV batteries, parts, and manufacturing equipment to the US.