LG Chem accuses SK Innovation of stealing company secrets

South Korean cell and battery manufacturer LG Chem has accused another South Korean cell and battery manufacturer SK Innovation of stealing trade secrets. SK Innovation was supposed to reveal the secrets of LG Chem by hiring 77 former employees of the company, which "developed the world's first commercial lithium-ion battery in car bags."

According to LG Chem, SK Innovation has hired dozens of engineers to research, develop and manufacture lithium-ion batteries, including the latest generation. A "significant number" of LG Chem employees must have been involved in the theft of trade secrets, which were then transferred to SK Innovation (source).

> LG Chem threatens Volkswagen. It won't deliver the cells if Germany starts cooperation with SK Innovation.

The crime allegedly involved lithium-ion cells in pouches (pocket type). LG Chem claims it has evidence of collusion with SK Innovation. The company has already filed charges against its competitor in South Korea and won a case there in a higher court.

Now LG Chem has decided to take a similar step in the United States: representatives of the concern want SK Innovation to receive a ban on the import of cells and batteries into America. This is a big deal because a victory in the United States could force LG Chem to take a similar step in Europe, where both manufacturers are investing huge sums in cell and battery factories.

The litigation on our continent could not only raise the prices of elements, but also slow down the development of the electric vehicle market. LG Chem's victory is likely to drive up the prices of electricians and reduce their numbers until at least the next decade, when further LG Chem production lines can meet the demand for lithium-ion batteries.

> LG Chem wants to produce 70 GWh batteries near Wroclaw. This could be the largest battery plant in Europe! [Puls Biznesu]

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