LG Turns On Spin Cycle, Posts Video To ‘Clear’ Exec Indicted For Damaging Samsung Washing Machines
The world of business can often be boring for us on the outside, so it's stories like this that help add a bit of excitement back in.
Over the weekend, LG acknowledged that its home appliances chief Jo Seong-jin and two other employees were indicted on charges of damaging competitor products in Germany. It's almost hard to believe that this story is even real given its pettiness, but the charge is that Jo Seong-jin and these employees walked into a store and damaged four Samsung-branded washing machines.
Considering the fact that it was one of the company's presidents at fault here, this is no doubt a stain on the company that LG would like to wash out soon.
One of LG's most-feared arch villains
LG even posted the following video to YouTube, in which it claims that Jo Seong-jin was simply performing routine "tests" on his competitor's products:
LG and Samsung have been fierce rivals for a while, fueled by the fact that both make similar products, and both are based in Seoul, South Korea, effectively "just across town" from one another.
Given the information provided, I wouldn't blame you if you thought that this is a legal procedure Samsung should win, but, the situation gets even stranger.
Also on Sunday, four employees of Samsung's Display division were indicted for stealing OLED technologies from LG's Display Co Ltd. Samsung has tried to quell the news by saying that what was stolen was already widely known.
I guess you could say that two of South Korea's biggest companies were put through the spin cycle on Sunday. It's amusing to watch as an outsider, but at the same time, the pettiness between the two is almost mind-boggling.