[Breaking] LG Chem-SK Inno, US ITC Lawsuit Postponed to February 10

Three Postponements... Time Gained by Agreement Between Both Companies

[Asia Economy Reporter Hwang Yoon-joo] The U.S. International Trade Commission (ITC) has postponed the trial date for the trade secret infringement lawsuit between LG Chem (LG Energy Solution) and SK Innovation over electric vehicle batteries to February 10. The delay in the ITC's final ruling has given both companies additional time to negotiate a settlement.

On the 10th, the ITC announced on its website that "the target date for completing the investigation has been extended to February 10, 2021." The commissioners confirmed the postponement through a vote the previous day but did not provide a reason for the delay.

The lawsuit began when LG Chem filed a complaint against SK Innovation with the ITC in April 2019. In November of the same year, LG Chem requested an early ruling against SK Innovation, and in February of this year, the ITC issued a preliminary determination for early loss. The final ruling was initially scheduled for October 5 but was postponed to October 26 due to the COVID-19 situation. It was then delayed again to November 10, coinciding with the U.S. presidential election schedule, and has now been postponed a third time to February 10, 2021.

The reason for the delay in the final decision is attributed to the COVID-19 situation in the United States. As of the 8th (local time), the cumulative number of COVID-19 cases in the U.S. reached 15,019,092. It took only five days after surpassing 14 million cases on the 3rd for an additional one million cases to be reported. Consequently, many states, including Washington and California, have extended their indoor business restrictions and other quarantine regulations from January 14 to January 4 of next year, extending the period by three weeks.

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