LG Chem demands SK Innovation stop misleading public
'LG willing to hold CEOs' meeting if SK addresses compensation issues'
By Jun Ji-hye
LG Chem called on SK Innovation, Tuesday, to stop misleading public opinion and fight fair in the courts amid their escalating legal battle over technologies related to electric vehicle (EV) batteries.
LG Chem said it is willing to accept a meeting between CEOs of the two companies if SK Innovation admits its mistake, makes a sincere apology, vows to make efforts to prevent the recurrence of such incidents and comes up with proper measures of compensation.
LG Chem CEO Shin Hak-cheol
The suggestion is construed as LG Chem refusing to accept a proposal, which has been made by some industry analysts, for a meeting between SK Chairman Chey Tae-won and LG Chairman Koo Kwang-mo to settle the issue.
“If a rival company (SK Innovation) believes it did not do anything wrong, it should argue over right and wrong in the courts, rather than misleading public opinion,” LG Chem said in a statement.
The legal battle between the two began after LG Chem filed lawsuits with the U.S. International Trade Commission (ITC) and a U.S. court against SK Innovation at the end of April for allegedly stealing confidential business information through employee poaching.
In response, SK Innovation said Aug. 30 that it will soon file patent infringement lawsuits against LG Chem and its U.S. subsidiary, LG Chem Michigan, with the ITC and a U.S. court, noting it will also sue LG Electronics through a U.S. court.
LG Chem said its lawsuits were filed to protect its core technologies and confidential business information, claiming its rival's argument that the suits would damage national interest was “totally illogical.”
“The rival company is undermining the essence of the lawsuits by slandering LG Chem, although we are the victim in all this,” the statement said.
LG Chem added if SK Innovation does not change its course of action, it will reveal the baselessness of the accusations SK has made, and will also consider taking further legal action.