Samsung, LG agree to end legal disputes

SEOUL: South Korean rivals Samsung Electronics Co Ltd and LG Electronics Inc have agreed to end ongoing legal disputes and work out future disagreements through dialogue.

The announcement comes over a month after LG appliances chief Jo Seong-jin was indicted by prosecutors on a charge of deliberately damaging Samsung washing machines.

The agreement also extends to subsidiaries Samsung Display and LG Display Co Ltd. Samsung Display employees were indicted in February on charges of stealing organic light-emitting diode (OLED) display panel technology from LG Display.

Samsung and LG in the joint statement said they will reach out to relevant authorities to take the agreement into account. It was not immediately clear how prosecutors would respond.

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