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ITC originally planned to make the final ruling in October 2020, but it was postponed three times before making the final ruling on February 10th of this year, indicating the fierce competition between the two companies and reflecting the complexity of this matter.

SKI may still have the last straw, which is to strive for the veto power of the US President over the final ruling. But the industry believes that this is unlikely to become a reality.

SKI's journey to the United States is difficult

According to publicly available market information, SKI plans to invest $2.6 billion (approximately 16.8 billion RMB) to build two battery factories in Georgia, USA, and is expected to supply power lithium batteries to 300000 electric vehicles and create 2600 long-term jobs after 2023.

However, as for how to handle matters such as US factories in the ITC, SK did not provide a response. Moreover, SKI may find it difficult to prevent losses of trillions of Korean won.

In a report, Credit Suisse Group (CS), a global investment bank, analyzed that "LG Chemical claims to receive 2-3 trillion won (before the final decision of the US President), and now the compensation amount will reach at least 5 trillion won (approximately 29.3 billion yuan)

At a press conference on February 11th, LG Chem stated, "We believe that the losses caused to LG by SK's theft of technology have also occurred in other countries such as Europe and South Korea, and whether other countries will also bring them up largely depends on SKI's attitude

The market believes that if SKI pays trillions of Korean won in compensation, the battery projects that are still in the loss stage will be further affected. The sales revenue of the SKI battery project in 2020 was approximately 1.6 trillion won, with an operating loss of approximately 400 billion won.

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