SEOUL, Sept. 16 (Korea Bizwire) — The chief executives of LG Chem Ltd. and SK Innovation Co. — two South Korean electrical car (EV) battery makers — met Monday to make a breakthrough of their authorized battles over EV battery patents however apparently failed to seek out widespread floor.
LG Chem CEO Shin Hak-cheol met with SK Innovation CEO Kim Jun in Seoul to debate authorized points between the 2 sides, the businesses stated. Their face-to-face assembly was organized with assist from the nation’s commerce ministry.
“Shin and Kim met and shared their opinions,” a LG Chem spokesman stated. “The 2 CEOs had a honest dialog, however we are able to’t reveal particulars of what they talked about.”
Trade sources stated that the 2 sides did not make a change in the established order of their authorized battles, although it’s nonetheless significant that they’ve managed to satisfy over the problem.
“We expect that the assembly itself was significant,” a SK Innovation spokesman stated. “We’ll preserve attempting to unravel the problem with dialogue whereas doing our greatest in court docket.”
LG Chem and SK Innovation have been at loggerheads in current months over EV battery-related patent lawsuits.
In April, LG Chem filed a pair of lawsuits with the U.S. Worldwide Commerce Fee (USITC) and the U.S. District Court docket of Delaware, requesting an embargo on importing EV battery-related merchandise from SK Innovation, whereas demanding compensation for the piracy of commerce secrets and techniques.
In response, SK Innovation filed a go well with with the USITC this month, claiming that LG Chem infringed on its patents in lithium-ion batteries.
SK Innovation additionally lodged a harm go well with in opposition to LG Chem with a South Korean court docket in June, saying the latter’s go well with is hurting its EV battery enterprise.
SK Innovation stated earlier that it’s keen to debate the matter with LG Chem out of court docket and settle the issue.
LG Chem has been responding that it may well settle for the dialogue supply ought to SK Innovation give you a honest apology and a compensation plan.