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SK　Innovation's　Ulsan　refining　complex　in　Korea SK Innovation Co., South Korea's leading electric vehicle battery maker, is on course to raise more than 5 trillion won ($4.5 billion) this year from asset sales, which will likely accelerate its transformation into an eco-friendly company. Following the $2 billion settlement under which it is paying 500 billion won each this year and next on top of royalty payment to LG, SK Innovation cashed in 2.45 trillion won worth of shares in two units -- SK IE Technology Co. and SK Lubricants Co. Additionally, it expects to receive 1.25 trilli...

SK Innovation shifts into full gear for EV battery biz   Sun, Apr 25 2021 11:03:43 AM Seoul, Apr 25 (IANS): SK Innovation, South Korea's refinery-to-battery maker, is back in the driver's seat to propel its electric vehicle battery business with stake sales and a planned listing of its subsidiary as its recent settlement with LG Energy Solution Ltd. cleared prolonged business uncertainties. The subsidiary of the nation's No. 3 conglomerate, SK Group, reached a $1.8 billion settlement with its bigger home rival LG Energy Solution Ltd to end a two-year legal battle for the EV battery business...

Monday, 12 Apr 2021 02:55 PM MYT SK Innovation agreed to pay its rival, an LG Chem Ltd unit, 2 trillion won (US$1.8 billion) to drop all litigation in a bitter trade secrets dispute. That was far less than expected with some estimates putting settlement costs at 7 trillion won. — Reuters pic Subscribe to our Telegram channel for the latest updates on news you need to know. SEOUL, April 12 — Shares in South Korean auto battery maker SK Innovation Co Ltd soared today after it buried the hatchet with LG Energy Solution, freeing up both firms to expand in the United States, where electric car...

LG and SK agree to settle battery dispute Apr 12, 2021, 08:48 am 1 LG and SK have finally ended their legal battle. The agreement comes hours before the Sunday night deadline for the U.S. International Trade Commission (ITC)’s import ban on SK. The two companies announced Sunday that they settled the battery dispute and will withdraw all their battery-related lawsuits at home and abroad. The last-minute settlement clears the prolonged legal risks to focus on their business in the United States.  LG Energy Solution and SK Innovation issued a joint statement, saying, “The two companies agr...

SK and LG Settle 2-Year Battery Dispute