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Summary: The two South Korean companies, Samsung and LG, have agreed to drop all their legal disputes against each other.
Samsung Electronics Co Ltd and LG Electronics Inc have perhaps realized that their various legal disputes appear, to outsiders, exorbitant, if not ridiculous. This may be why they announced Tuesday their intention to end all legal disputes, beginning with the notorious bit of noise regarding a set of damaged washing machines.
The washing machine incident has been withdrawn after LG appliances chief Jo Seong-jin was indicted for intentionally damaging Samsung washing machines in a retail store last September. The dispute has gotten a tad petty with the companies arguing over how many machines were damaged. YouTube footage uploaded by LG did not solve the matter in Samsung’s eyes; they claimed the videos were heavily edited.
So they are ending this ruckus, as well as disputes over who has the greater refrigerator capacity, and which the largest air-conditioning market share.
“Both sides have agreed to avoid legal action and resolve any future conflicts or disputes through dialogue and mutual agreement,” the companies said.
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Not only will they drop their disputes, but they are asking legal authorities to avoid harsh punishments in the cases that are already underway.
News Source: Reuters
