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ITC delays decision on LG Chem, SK Innovation trade secret case

Credit: REUTERS/KIM HONG-JI

The United States International Trade Commission (ITC) on Monday delayed a decision on South Korea's chemicals and electric vehicle battery maker LG Chem Ltd's complaint its cross-town rival SK Innovation Co Ltd misappropriated electric vehicle battery trade secrets.

WASHINGTON/SEOUL Oct 26 (Reuters) - The United States International Trade Commission (ITC) on Monday delayed a decision on South Korea's chemicals and electric vehicle battery maker LG Chem Ltd's 051910.KS complaint its cross-town rival SK Innovation Co Ltd 096770.KS misappropriated electric vehicle battery trade secrets.

An adverse ruling by the ITC could lead to the import ban of SK Innovation's batteries and necessary components, potentially causing setbacks for Volkswagen VOWG_p.DE and Ford Motor F.N as they move to build new electric vehicles.

The ITC delayed the target date for its decision to Dec. 10.

(Reporting by David Shepardson in Washington and Heekyong Yang in Seoul, Editing by Chris Reese)

((David.Shepardson@thomsonreuters.com; 2028988324;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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