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Police Raid SK Innovation in Trade Secret Theft Investigation

Written: 2021-02-25 13:17:39Updated: 2021-02-25 13:30:26

Police Raid SK Innovation in Trade Secret Theft Investigation

Photo : YONHAP News

Police are conducting an additional search and seizure at SK Innovation, accused of stealing rival LG Chem's trade secrets related to electric vehicle(EV) battery technology.

The Seoul Metropolitan Police Agency began the raid at the corporate headquarters in Seoul's Jongno district Thursday morning.

After LG Chem filed a complaint in May 2019, the police raided the company headquarters, as well as a factory in the central Chungcheong city of Seosan, in September of that year.

The latest search focused on obtaining additional evidence.

Earlier this month, the U.S. International Trade Commission(ITC) sided with LG Chem, after the company filed a trade-secrets theft claim against SK Innovation.

The ITC issued a ten-year exclusion order against SK Innovation to ban it from importing certain lithium-ion batteries, battery cells, battery modules, battery packs and components into the U.S. and manufacturing such products in the country.

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