SK TO SETTLE OVER EV BATTERY DISPUTE WITH LG BY PAYING $1.78 BILLION

Highlights –

• SK to settle over EV battery dispute with LG by paying $1.78 billion.
• The U.S. ITC sided with LG in a trade secret case and had issued a 10-year import ban on SK.
• The settlement now averts the import ban that was initially issued.
• SK Innovation will pay 1 trillion won in cash and 1 trillion won in royalties.

On Sunday, SK Innovation Co. rep....