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LG and Samsung agree to settle OLED and LCD patent disputes with words, not lawyers

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As South Korea's two largest electronics chaebols, LG and Samsung have a history of litigation. Recently, a dispute between the companies' display divisions regarding OLED patents — and the alleged LG theft of OLED tech — has been boiling over, but the pair have agreed to put their differences aside and settle outside the courtroom. The agreement comes after a government ministry persuaded the CEOs of LG Display and Samsung Display to meet in a Seoul hotel to break the legal stalemate. Today's announcement should spell the end of all lawsuits between LG Display and Samsung Display, including a major LCD lawsuit filed back in December.

Hyunhu Jang contributed to this article