- LG Chem filed its trade complaints against SK Innovation last year in the United States over allegations of trade secret theft
- The ITC did not disclose the reason for the delay
As per a report by Reuters, the United States International Trade Commission (ITC) delayed a decision in a trade secrets case involving South Korean battery makers LG Chem and SK Innovation to 10th February. LG Chem filed its trade complaints against SK Innovation last year in the United States over allegations of trade secret theft. It was seeking to block SK from producing battery cells in the United States and importing the components necessary to make the cells. The report added that SK denied wrongdoing.
ITC did not disclose the reason for the delay
As per the report, an adverse ruling by the ITC could lead to an import ban on SK Innovation’s batteries and necessary components. This could potentially cause setbacks for Volkswagen and Ford Motor as they move to build new electric vehicles.
Th report added that in February, the ITC made a preliminary ruling in favor of LG Chem. The ITC did not disclose the reason for the delay. As per the report, LG Energy Solution said in a statement that it will continue to participate in the lawsuit faithfully and decisively. SK Innovation said the company would continue to participate in the lawsuit regardless of the delay.
As per the report, it said in a statement that as the lawsuit is set to extend into the third year, SK Innovation hopes that the two companies could make a wise decision to end the dispute promptly to resolve uncertainties and devote ourselves to do business.
