Lawyers try to seize Japanese assets over Korean forced work
SEOUL, Korea, Republic Of — Lawyers for South Koreans forced into wartime labour have taken legal steps to seize the South Korean assets of a Japanese company they are trying to pressure into following a court ruling to provide them compensation.
Lawyer Lim Jae-sung said Thursday the court in the city of Pohang could decide in two or three weeks whether to accept the request to seize the 2.34 million shares Nippon Steel & Sumitomo Metal Corp. holds in its joint venture with South Korean steelmaker POSCO, which are estimated to be worth around $9.7 million.
Lim said Nippon Steel has been refusing to discuss compensation despite a ruling by South Korea’s Supreme Court in October that the company should pay 100 million won ($88,000) each to four plaintiffs who worked at its steel mills during Japan’s colonial rule of the Korean Peninsula. The court made a similar ruling on Japan’s Mitsubishi Heavy Industries in November, triggering a diplomatic spats between the countries.
There was no immediate response from Japan’s government during its New Year holidays. An unnamed Nippon Steel official told the Yomiuri newspaper that the legal action in South Korea was “extremely regrettable” and that the company will “respond appropriately” to it after consulting with the Japanese government.