Moon calls LG-SK deal on EV battery trade fortunate, meaningful
SEOUL, April 12 (Yonhap) -- President Moon Jae-in said Monday it is fortunate and meaningful that two South Korean electric vehicle (EV) battery makers -- LG and SK -- have reached a deal on ending their legal dispute on electric vehicle batteries.
He stressed the importance of the stability in global supply amid accelerating technological changes.
"The agreement between the two companies is very meaningful in that it is in both the national interests and the long-term interests of individual companies for domestic members of the industrial ecosystem to cooperate based on mutual trust, while competing with each other," he said in his social media message.
He expressed hope that the nation's EV battery producers will move fast to lead the development of the global environment-friendly vehicle market.
SK Innovation Co. agreed to pay 2 trillion won (US$1.78 billion) to LG Energy Solution Ltd. to end their two-year legal fight on a trade secret case.
lcd@yna.co.kr
(END)
-
Zebra escapes from Seoul zoo -
Ateez realizes importance of direct interactions with fans during world tours -
(LEAD) Zebra captured some 3 hours after escaping from Seoul zoo -
(LEAD) N. Korea tests 'underwater nuclear attack drone,' cruise missiles for nuclear warhead: KCNA -
N. Korea says it conducted new underwater nuke weapon test, strategic cruise missile drill: KCNA
-
Yoon puts S. Korea-Japan relations back on track -
Japan's removal of export curbs on S. Korea to boost supply chain stability, ease biz uncertainties -
Yoon's summit with Biden to highlight S. Korea's 'pivotal' role in region: U.S. experts -
(News Focus) Solution to forced labor issue shows Yoon's commitment to improving ties with Japan -
Seoul's controversial plan for forced labor compensation reflects urgency of security partnership with Tokyo: experts
