samsung-lg-theftIn South Korea, there are two different kinds of electricity pricing tiers. The more affordable one between the two is meant for industrial use only, and that would mean manufacturing, mining, and other production equipment and facilities (factories included). Apart from that, there is also the standard priced electricity, which is meant for offices, R&D centers, and general purpose buildings among others. Well, this is certainly cause for temptation, as some companies have been discovered to have used the cheap ‘industrial’ electricity for ‘normal’ usage. Surprisingly, both Samsung and LG have been seen on a list of companies in South Korea who have done just that.

This means that both Samsung and LG have been forking out money for the cheaper electricity tariff, instead of purchasing the more expensive electricity tier that they were supposed to. In fact, it has been classified as ‘stealing electricity’ in South Korea, and this has been happening since 2004 – which is a long, long time already. Needless to say, when your hand is caught in the cookie jar, it is time to pay your dues, and the law of restitution would be to pay twice the price difference, so that means burning a hole in their pockets. Ouch! Do you think that this is a harsh enough lesson?

Filed in General. Read more about LG and Samsung.

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