SK-Innovation-LG-Chem-dispute-continues
Electric vehicle/Courtesy of Pixabay

SK accuses LG of reneging on 2014 patent deal

SK Innovation renewed its claim that LG Chem reneged on a patent deal between the two rechargeable battery makers, which are stuck in lawsuits in the United States and Korea.

This time around, the former disclosed an agreement with the latter that was signed on October 29, 2014.

Through the 2014 contract, SK claimed that the two sides agreed not to take issue with several patents related to electric vehicle batteries both at home and abroad.

Hence, it lashed out at LG that LG filed patent lawsuits with the U.S. International Trade Commission earlier this year.

In response, LG counters that patents in the U.S. lawsuits are different ones.

Over the past few months, the two rivals have been at odds, filing lawsuits in the U.S. and Korea.

To mend the fence, the two cross-city competitors’ CEOs held a meeting midway through last month. But they failed to find a happy medium.

In the latest move, SK filed a lawsuit seeking compensation against LG for breach of the 2014 contract. To support its accusation, it revealed the agreement, but LG flatly denied it.

Against this backdrop, the months-long legal battle is expected to continue for the time being.

Observers worry that the tit-for-tat conflicts would end up chipping away at the competitiveness of the battery giants.

The high-profile two-way dispute started this April when LG accused SK of stealing business secrets about electric vehicle batteries.

Thereafter, the fights have escalated as the two sides came up with full-throttle attacks on each other.