SK Inno "Regrettable ITC Decision, Will Do Our Best in Remaining Procedures"

Ford, Volkswagen, and Others Will Do Their Best for Customer Rights
"Negotiations Possible Anytime Under Reasonable Conditions"

[Asia Economy Reporter Hwang Yoon-joo] SK Innovation expressed regret over the U.S. International Trade Commission (ITC) decision, stating that it was "disappointing that a substantive judgment on trade secret infringement was not made."

On the morning of the 11th, SK Innovation said, "We will do our best to correct the decision through the remaining procedure (Presidential Review)," expressing such regret.

SK Innovation stated, "After the ITC decided on a full review by unanimous vote of the commissioners, despite our best efforts to clarify the disputed issues, it is regrettable that we were not given the opportunity for a substantive judgment on trade secret infringement due to procedural issues," adding, "We will do our best to correct this decision through the subsequent procedure (Presidential Review) and carefully analyze the ITC's ruling to actively respond to appeals and other prescribed procedures to uncover the truth."

However, SK Innovation explained that since the ITC allowed exceptions to the import ban, permitting the import of parts for Volkswagen and Ford models produced in the U.S. for two and four years respectively, it believes that the ongoing establishment and operation of its U.S. plant will be possible on a limited basis during this period, and it will do its best to protect customer rights.

Additionally, regarding the scope of the import ban stated in the decision, SK Innovation announced that it plans to minimize the impact by reviewing the practical relevance of the 22 items listed as trade secrets and establishing countermeasures.

SK Innovation plans to convey through the grace period and remaining procedures (such as the Presidential Review) that this ITC decision has a significant adverse effect on the development of the U.S. related industrial ecosystem and the safety of electric vehicle consumers.

SK Innovation emphasized, "Despite being supplied to global automakers for over 10 years without any safety issues, this is the 'world's safest battery,'" adding, "If it becomes impossible to supply this battery to U.S. consumers through automakers selling electric vehicles in the U.S., it will be a great loss for U.S. companies and consumers."

It also stated, "If this plant is forced to halt operations midway, the damage will not be limited to SK alone but will inevitably affect the entire state of Georgia and, furthermore, the U.S. economy and society," actively conveying this point.

The battery plant SK Innovation is building in Georgia, U.S., has seen investments of up to $5 billion. It is expected to create up to 6,000 high-quality jobs through the establishment of the battery plant. Considering derivative investments and employment effects, SK Innovation believes that economic revitalization is possible not only in Georgia, where the plant is located, but also in neighboring regions.

Im Soo-gil, Head of SK Innovation's Value Creation Center, said, "We will do our best to ensure that no disruptions occur to our business, customers, and the U.S. economy and local communities in accordance with the remaining procedures."

He added, "Under reasonable conditions, SK Innovation is always willing to engage in negotiations for settlement," and "We hope to end the lawsuit early and cooperate for the development of the industrial ecosystem and the national economy."