A rendered image of LG Household & Health Care’s temporary tattoo printing device, IMPRINTU (above, in green), and Prinker Korea Inc.’s tattoo printing device (below, in black). (Yonhap)
SEOUL, July 12 (Korea Bizwire) — A dispute over “idea theft” between startup Prinker Korea Inc. and cosmetics giant LG Household & Health Care Ltd. has been resolved through a win-win agreement.
The dispute arose when Prinker Korea claimed in February that LG H&H had released a tattoo printer product by stealing the idea of their customized tattoo printing device.
Upon reporting the case to the Ministry of SMEs and Startups, Prinker Korea initiated an administrative investigation. The ministry examined the positions of both parties and facilitated a mediation agreement.
The ministry proposed mediation conditions, which included the joint development of technology. The Korea Commission for Corporate Partnership hosted multiple working-level meetings to refine the agreement’s details.
After approximately three months of mediation, the two parties eventually signed an agreement with a primary focus on promoting mutual cooperation.
As part of the agreement, all accusations and reports filed by both parties against each other have been withdrawn.
Additionally, a new council has been established to foster the development of the tattoo printer industry, and the joint participation of both entities in new product development has been confirmed.
Kevin Lee (kevinlee@koreabizwire.com)
