Finally, two Korean leaders have called a truce and made peace with each other. Samsung Electronics and LG Electronics
said Tuesday they would bury the hatchet for all existing legal disputes, bringing some tranquility between two of the largest and best known South Korean companies. In Samsung and LG’s joint statement released Tuesday, the companies said they were ending the disputes to focus on improving the quality of their products and their customer service.
The companies resolved to address their disagreements through dialogue and cooperation, instead of resorting to legal action. "Both sides have agreed to avoid legal action and resolve any future conflicts or disputes through dialogue and mutual agreement," the companies said. For years, the two corporate giants had been at war with each other, trying to tear each other down as each grew bigger and bigger, to the point where they both sponsor some of the biggest soccer clubs in Europe. Televisions, home appliances, and mobile phones are both companies’ biggest sellers. The settlement between the two companies was signed on Monday and made public in a statement on Tuesday. Among other disputes, terms of the agreement cover an incident in which Samsung accused LG of vandalizing their $2,700 high-end Crystal Blue washing machines at an industry event in Berlin last September. LG accepted that two machines were damaged, but said it was accidental and a result of poor manufacturing, not something that was done on purpose. While it may not evoke the emotion of a match between Chelsea and Bayer Leverkusen, the companies still ask for leniency from the officials. "For ongoing legal disputes, we will take necessary steps to drop the charges and will ask for leniency from the relevant (law enforcement) authorities,” the statement said.
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