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SK Innovation lost in the battery dispute against LG Chem. The U.S. International Trade Commission determined that SKI is guilty of stealing the latter’s battery patent and imposed a 10-year ban as its penalty.
As per The Korea Times, with the decision of USITC, SK Innovation called the ruling “catastrophic” because it will not only negatively affect the company’s operation in the U.S. but public interest in the country as well. Apparently, the South Korean company has no plans to concede and go with the decision as it has been fighting the ban since it was handed down.
SK’s moves after the announcement of USITC’s decision
Instead of compensating LG Chem and taking steps to carry out the penalty imposed by the U.S. trade commission, SK Innovation filed a motion to appeal the decision. It has made a request to stop the implementation of USITC’s orders that were released last month as the trade dispute against its rival, LG Chem, came to an end.
"The commission's remedial orders are catastrophic,” part of SKI’s statement in its motion reads. “They will deal immediate and long-lasting harm not only to SK but also to the American public at large.”
It was said that the motion was filed earlier this month, and the trade commission already reviewed it. The ITC posted the document for the public to see but only after taking out the sensitive parts and legal clauses that cannot be divulged. The motion was then posted on March 22 at the agency’s website.
SKI also wants Joe Biden to interfere and use his veto right to reverse ITC’s ruling. The U.S. president has until April 11 to revoke the decision, but there is no word from his office yet up to now.
The effects of SKI’s loss against LG Chem in the battery dispute
With LG Chem’s win in the battery patent conflict, it means that the ITC found SKI to have stolen LG’s battery technologies. For this offense, SKI has been prohibited from importing, sale and domestic production in the U.S. for 10 years. However, the company was given a 4-year license to supply parts to Ford and 2 years to Volkswagen.
In any case, SK Innovation called ITC’s ruling "catastrophic" because its Georgia plant that is still being built would be severely affected by the ban. Thousands of jobs would be lost as well since the factory can’t operate for 10 years.
Moreover, it was said that the government of Georgia could also be forced to pay a penalty since it has also invested in the $2.6 billion battery plant. Environmental benefits will also be lost if SK’s plant will not open as planned.
