SEOUL (Reuters) -Shares in South Korean auto battery maker SK Innovation Co Ltd soared on Monday after it buried the hatchet with LG Energy Solution, freeing up both firms to expand in the United States, where electric cars have become a Biden administration priority.
SK Innovation agreed to pay its rival, an LG Chem Ltd unit, 2 trillion won ($1.8 billion) to drop all litigation in a bitter trade secrets dispute. That was far less than expected with some estimates putting settlement costs at 7 trillion won.
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