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By Kim Yoo-chul
In the world of business, a negotiation is a process between interested parties aiming to find common ground and eventually reach a consensus to possibly settle a matter of mutual concern, resolve a conflict and exchange value.
In addition, an effective negotiation is a way by which affected parties narrow their core differences. It is fair to say that when it comes to any disagreement, these affected parties naturally tend to seek the best possible outcome based on their unique position.
This general principle is being put into practice right now in a blockbuster intellectual property dispute between two Korean business conglomerates.
SK Battery is counting on the Biden Administration to reverse an order that threatens the future of its electric car battery plant in Jackson County. But a rival Korean battery manufacturer says the only way to save those 2600 jobs is to pay up.