The U.S. International Trade Commission (ITC) on Wednesday preliminarily ruled that SK Innovation Co Ltd, the battery subsidiary of South Korea’s SK Group, did not infringe on battery patents of LG Energy Solution, LG Chem’s battery subsidiary.
LG Energy Solution, a battery business wholly owned by LG Chem, and its counterpart SK Innovation have waged several legal battles in the U.S., and this is the first time LG Energy Solution has received an unfavorable preliminary ruling from the U.S. ITC.Previously, SK threatened to pull out of the US.
As of press time, SK share price is up 10.05%, while LG share price increases little by 1.06%.