SEOUL: Samsung and LG have agreed to end all pending legal disputes, bringing a measure of peace to two of South Korea’s best-known conglomerates.
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.
In that dispute, Samsung accused the head of LG’s home-appliance division of vandalizing several Crystal Blue washing machines while in Berlin for an industry event. The machines retail for about $2,700 each.
Last month, South Korean prosecutors indicted LG appliance chief Jo Seong-jin. He denied the allegations via a spokesman.
Samsung and LG have become household names on the global stage, with their televisions, refrigerators and smartphones among the biggest sellers around the world.
But the intense rivalry between the two technology giants has often resulted in public feuds over patent issues and product superiority.
