Federal prosecutors said the pair tried to sell technology to manufacture batteries for electric cars that belonged to the company.
Wisk Aero, owned by Boeing, entered a financial and technological partnership with Archer Aviation and dropped a lawsuit claiming theft of trade secrets.
The settlement between LG Energy Solutions and SK Innovation ensures that a battery plant in Georgia will go forward without hampering electric vehicle production.
A lawsuit by Wisk, partly owned by the Google co-founder Larry Page, says two engineers took sensitive files and data before joining Archer.