SK Innovation Co. had the biggest decline in almost a year in Seoul trading after the International Trade Commission ruled its electric-vehicle batteries will be banned from the U.S. for 10 years, giving bigger rival LG Energy Solution Co. a win.
Shares of SK Innovation, which supplies Ford Motor Co. and Volkswagen AG, dropped as much as 9.6% in early trading, the biggest intraday decline since March 2020. The stock traded down 6.6% at 277,000 won as of 9:15 a.m. in Seoul. Shares of LG Chem Ltd., the parent of LG Energy, gained as much as 5.2%.
