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LG Chemical and SKInnovation recently filed a lawsuit on the grounds of leaking trade secrets and patents. Although it appears to be a dispute over technology leakage and talent grabbing, it is essentially a competition for dominant power in the future battery market.

Electric vehicles are the cornerstone of smart cars, which also represents a great potential for growth in the battery industry and has become the main reason for the competition among Korean companies LG Chemical and SKInnovation. According to a report by Korean media "ZDNetKorea", market research company SNER Research estimates that the battery market size will grow to $167 billion in 2025, surpassing the $150 billion memory market.

Many companies are targeting the growth potential of the battery industry and vigorously developing related technologies, including China's Ningde Times, BYD, AESC, as well as Korean LG Chemical, Samsung SDI, SKInnovation, and Japanese companies such as Panasonic. It is widely believed in the industry that the battery industry, such as the semiconductor industry, requires huge equipment funds and may only have 3-5 companies able to survive in the future.

LG Chemical has been engaged in the secondary battery business for nearly 30 years, investing a huge amount of energy in the field of electric vehicle batteries. In 2009 and 2016, LG Chemical established electric vehicle battery factories in Michigan, USA and Poland, respectively. Its customers include well-known car companies such as Hyundai, Kia, Renault, General Motors, Ford, etc., and it has a significant influence in the global battery market.

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