LG Energy Solution and SK Innovation have reached a settlement to end a trade secret dispute in the U.S., issuing a joint statement on Sunday that concluded their two-year feud.

SK Innovation agreed to pay two trillion won, or about one-point-eight billion dollars, to LG Energy Solution, with one trillion won in cash and one trillion won in royalties. 

The two electric vehicle(EV) battery makers also agreed to drop all disputes at home and abroad and to not file any additional suits for the next ten years. 

LG Energy Solution CEO Kim Jong-hyun and SK Innovation CEO and President Kim Jun said the two companies agreed to engage in sound competition and friendly cooperation to advance the EV battery industries of both South Korea and the U.S. 

With the latest settlement, SK will be able to complete the construction of its new plant in Georgia and produce batteries without the limitations that the U.S. International Trade Commission (ITC) had imposed.

In February, the ITC had ruled in favor of LG in the trade secret case, issuing a limited ten-year ban on imports of certain batteries made by SK. But the latest settlement invalidates the ban, allowing SK to continue its operations in the United States.

The settlement came a day before the import ban was set to take effect unless U.S. President Joe Biden vetoed the U.S. International Trade Commission(ITC) decision before the Sunday night deadline.