Construction on a $2.6-billion battery manufacturing plant near Atlanta can continue under an agreement reached April 11 between two rival South Korean auto battery makers—including SK Innovation, which is owner of the half-completed project.
SK Innovation will pay LG Energy Solution $1.8 billion, part in cash and part in future royalties to settle a dispute over trade secrets and intellectual property. LG Energy will drop litigation before the U.S. International Trade Commission, a U.S. federal court and South Korean courts under the agreement. The agency ruled in February that SK Innovation misappropriated trade secrets from its rival.