Shares of SK Innovation jumped nearly 12 percent to close at 266,500 won ($237) on Monday after the company settled a battery trade secrets dispute with LG Energy Solution on Sunday.
The chairman of the SK Innovation board blasted a U.S. ruling against the company for intellectual property theft and suggested that a multi-billion battery investment in the country could be abandoned or unloaded.
Any hope of LG Energy Solution and SK Innovation reaching a settlement that allows both companies to continue operating in the U.S. electric vehicle (EV) battery market seems to be fading fast
Korea JoongAng Daily Sitemap