LG Headquarters Raided on Friday, Rivalry with Samsung Turns Bitter
Rivalry between South Korean majors Samsung and LG escalated several notches after prosecutors raided the latter's headquarters on Friday.
The raid is part of investigations into the vandalism episode allegedly by LG boss Jo Seong-jin's at an electronics store in Berlin, where he along other employees damaged Samsung washing machines. The incident reportedly took place during the IFA 2014 in September. Samsung registered a complaint with Seoul Central District Prosecutors' Office, following the incident CNET reported.
Authorities also searched Jin's office early Friday, seizing data and documents pertaining to the trade fair.
"We regret today's raid by prosecutors. Our company - a global company - was raided as a result of a rival's unilateral and excessive claims, and we are concerned that this would seriously undermine our corporate activities and external credibility," LG Electronics said in a statement, according to Reuters.
According to Engadget, prosecutors imposed a travel ban on Jin, restraining him from flying out of the country as he failed to cooperate with the investigations, citing work reasons. Jin was set to represent the company the CES 2015 in Las Vegas but the ban may prevent the company from making its presence at the prestigious electronics event.
LG is also countersuing Samsung for defamation and tampering of evidence, while it has said that Jin would cooperate with the prosecutors.
