South Korean Court Rejects Nippon Steel Appeal Over Asset Seizure
Japanese media reported that South Korean court has rejected an appeal from Japanese steelmaker Nippon Steel Corp over seizure of the company's assets
Japanese media reported that South Korean court has rejected an appeal from Japanese steelmaker Nippon Steel Corp over seizure of the company's assets to compensate South Koreans forced to work there during wartime. The Daegu District Court's Pohang branch decided not to accept the company's immediate appeal due to the absence of grounds. The case will now move to a higher court for review.
The court decided to seize Nippon Steel's assets in South Korea as the company refused to implement a Supreme Court decision in 2018 that ordered compensation over wartime forced labour at Japan Iron and Steel Co, the steelmaker's forerunner, in the 1940s. Nippon Steel had filed immediate appeals over two of the three cases over the company's assets for which asset seizure orders have been issued. It made an appeal back in August for another case that is in progress, which also was rejected by the court and was moved up to higher court.