LG Chem’s petition to ITC alleges that SK Innovation hired more than 70 key employees from LG Chem between 2016 and 2018, including dozens of engineers who were involved in the design, development and manufacture of this advanced battery technology used in electric vehicles, as well as other consumer electronics applications. LG Chem further alleges that, based on its internal audit of the company’s data and communication records, SK Innovations conspired with LG Chem employees to secretly download trade secrets prior to joining SK Innovation, solicited detailed descriptions of their work and trade secret information in resumes for employment, and contacted current LG Chem employees requesting trade secrets therefrom. The alleged scale of the misappropriation spans many years, many employees and many aspects of LG Chem’s trade secrets, from research and development of lithium ion battery technology through manufacturing, testing and sales. Using the stolen technology, LG Chem alleges, SK Innovations won a lucrative deal with Volkswagen, beating out LG Chem for that contract, with losses estimated at over $1 billion.
International Trade Commission (ITC) , on Wednesday, barred the import of batteries meant to power the new electric Ford F-150 pickup, the most popular line of vehicles in the country for four straight decades. The batteries, made by South Korean giant SK innovation (SKI), were also intended for VW’s new crossover SUV, called the ID.4, which the German carmaker has planned to make in the U.S. to compete with the Tesla Model Y. But now, both companies must find another battery.
Source:
https://www.wiggin.com/wp-content/uploads/2020/01/Kasdan_Cho_IAM_Trade_Secrets-1.pdf
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