LG Energy Solution "ITC Lawsuit Aimed at Fair Compensation for Damages"

[Asia Economy Reporter Hwang Yoon-joo] LG Energy Solution has stated regarding SK Innovation's dissatisfaction with the U.S. International Trade Commission (ITC) lawsuit negotiations that "this lawsuit is not intended to shake or disrupt the competitor's business."

On the afternoon of the 16th, LG Energy Solution released a statement asserting, "The core issue is that SK Innovation, as the infringing company of trade secrets, must provide appropriate compensation to our company, the victim."

Earlier that morning, SK Innovation issued a press release claiming, "Following the ITC decision, LG Energy Solution has distorted the facts after announcing an investment plan without substance to prevent the U.S. President's veto."

In response to these claims, LG Energy Solution expressed, "It is very regrettable that our legitimate investment plans aligned with the growth of the U.S. market are being disparaged and off-topic arguments are being repeated," emphasizing, "We do not want customers who currently receive or plan to receive batteries from the competitor, nor the state of Georgia, to suffer any disadvantages."

They added, "We hope this lawsuit will establish a sound and good-faith competitive relationship between the two companies and serve as a turning point for the Korean battery industry to take a step forward."

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