South Korean battery equipment maker TSI – a key supplier for Samsung SDI – has been sued by its rival for stealing technology information, industry sources said on April 9. The lawsuit is likely to posed as an obstacle for TSI’s efforts to get listed on the Kosdaq market.
The rival is a fellow supplier for Samsung SDI called Korea Chem. This company is claiming that information on technology involving a battery material mixing equipment was leaked to TSI.
Samsung SDI has now decided not to be supplied by TSI for mixing material any longer. It will, however, continue to be supplied with TSI’s equipment for storing battery materials and moving them.
Konex-listed TSI requested preliminary deliberation in March 2020 ahead of its planned IPO on the Kosdaq in July. The company was to float a little over 926 million shares. The deal manager is Korea Investment & Securities. Industry watchers now believe TSI may have to postpone its IPO plans.
TSI declined to comment on the ongoing lawsuit. “All we can say is that we are in dispute over allegations of copyright and trade secret infringement, and also unfair competition,” said one company official. “We cannot reveal anything else.”
The Elec is South Korea’s No.1 tech news platform.