[Concall] SK Inno "LG Settlement Lump Sum Pre-recognized at 1 Trillion Won"

[Asia Economy Reporter Hwang Yoon-joo] SK Innovation announced on the 13th during the 2021 Q1 earnings conference call that "Regarding the settlement amount related to the battery lawsuit with LG Energy Solution, in accordance with the disclosure agreed upon by both companies, out of the total settlement amount of 2 trillion KRW, a lump sum payment of 1 trillion KRW to be paid in amounts of 500 billion KRW each this year and next year has been discounted to its present value of 976.3 billion KRW and reflected in operating profit."

They added, "The 1 trillion KRW based on the present value as of 2023, which will be paid linked to sales from 2023 onwards, will be recognized as cost of sales at each payment time," and "There will be no additional costs recognized in advance beyond this."