"Embarrassed" Prime Minister's Rebuke, SK Innovation "Apologize to the Public, Strive for Amicable Resolution"

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyewon] Regarding the lawsuits arising domestically and internationally among domestic electric vehicle battery companies, Prime Minister Chung Sye-kyun expressed a message hoping for a swift resolution, to which SK Innovation conveyed its apologies to the public.

On the 28th, Ji Dongsup, head of SK Innovation's battery business, issued a statement titled "Regarding the Prime Minister's Concerns on the Battery Lawsuit," stating, "Despite having sincerely engaged in all litigation processes so far, we deeply apologize to the public for not being able to resolve the matter amicably."

Ji explained, "SK Innovation believes that the battery industry not only drives our company's growth but also can significantly contribute to the national economy and the development of related industrial ecosystems as a second semiconductor sector, so we are focusing on nurturing it. Meanwhile, LG Chem (now LG Energy Solution) filed a trade secret infringement lawsuit, and the litigation has now entered its third year."

He continued, "We take seriously the Prime Minister's strong concerns expressed today during the live broadcast invited by the Press Club regarding the battery lawsuit, as it reflects the public's wishes. Recognizing these public concerns and hopes, we will do our utmost to resolve the dispute amicably through cooperative and constructive dialogue with the opposing party." He added, "We will strive so that K-battery can contribute to the national economy and the development of the industrial ecosystem as the public expects."

At the Press Club debate that day, Prime Minister Chung pointed out, "LG and SK, representative Korean companies, have been in litigation for three years, with costs reportedly reaching hundreds of billions of won," adding, "When these two companies fight, only others benefit." He also said, "It is embarrassing as even the U.S. political circles urge a quick resolution," and shared that he had contacted the top executives of both companies, saying, "'Aren't you ashamed? Is it acceptable to cause such worries to the public?' urging a swift resolution, but it has yet to be resolved," thereby sending a message urging the two companies to settle the dispute.