After months of rivalry over washing machines, the companies have officially announced to end all legal disputes.
Samsung and LG, South Korean companies, are not only the giants of the technology sector in South Korea but are well renowned all across the globe for their products. It can be said that Samsung Electronics and LG Electronics are two of South Korea’s best known and finest conglomerates. However, an unusual dispute initiated between both parties over not such a big thing. The South Korean tech giants were involved in a washing machine rivalry.
However, latest news reports that both parties have decided to end rivalry over washing machine and have agreed to settle all legal disputes. Both companies said in a statement on Tuesday that they have agreed to end all legal disputes “bringing a measure of peace to two of South Korea’s best-known conglomerates.”
Wall Street Journal reports, “The settlement between the two companies and their display affiliates, signed by the four companies’ chief executives on Monday and made public on Tuesday, caps a fracas over high-end Samsung washing machines that were allegedly damaged on the sidelines of an industry trade show last September.”
Samsung accused LG in the dispute. According to sources, it is believed that Samsung’s Crystal Blue washing machines were damaged and destroyed by the head of LG’s home appliance division in Berlin, Germany for an industry event. Samsung says that each washing machine’s worth was $2,700.
However, after months, both companies came to a conclusion and released a joint statement. The statement said that both parties are set to withdraw all complaints and issues against each other. Moreover, the companies have requested legal authorities to prevent from taking any strict actions and reprimand punishments on the ongoing cases of the same dispute. “Both sides have agreed to avoid legal action and resolve any future conflicts or disputes through dialogue and mutual agreement,” said the companies.
This announcement has come after months the head of LG’s home appliance sector, Jo Seong Jin, was accused by Samsung for vandalizing Samsung’s machines for an event in Berlin last September.
Reuters said “The two companies have attracted public mockery as they bickered over issues such as how many washers were damaged by Jo and other employees. When LG published surveillance video footage to YouTube in an attempt to prove Jo’s innocence, Samsung said the video was heavily edited in the executive’s favor.”
In previous months, the South Korean legislative bodies also accused the LG’s head of home appliance. But Jo Seong Jin denied the allegations as well as declined to comment over this matter.