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Japan protests as South Korea court asked to sell Nippon Steel assets over wartime labor

Steel News - Published on Thu, 02 May 2019

Image Source: japan Times
Japan Times reported that Japanese government protested what it sees as inaction by the South Korean government to prevent Japanese corporate assets from being sold as part of a wartime labor dispute. Mr Kenji Kanasugi, director general of the Japanese Foreign Ministry’s Asian and Oceanian Affairs Bureau, called a senior South Korean Embassy official in Tokyo to lodge the protest. Mr Kanasugi said Seoul has yet to take concrete steps to correct the violations of a 1965 bilateral accord that settled wartime compensation issues.

Mr Kanasugi also reiterated Japan’s demand for bilateral talks on the matter.

The protest came after a team of lawyers for South Koreans who were awarded damages from Japanese steelmaker Nippon Steel Corp and machinery manufacturer Nachi-Fujikoshi Corp over wartime labor said earlier in the day they had asked a court to sell assets seized from the firms in South Korea.

Nippon Steel and Nachi-Fujikoshi each have assets in South Korea in the form of stakes in companies. Some of their stakes were seized by South Korean courts in January and March, respectively, after both refused to compensate the plaintiffs after courts ruled against them.

Source :

Posted By : Ratan Singh on Thu, 02 May 2019
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