Japanese Nippon Steel company has appealed a South Korean decision to seize and sell its assets to pay reparations for using forced labor during the Second World War, the NHK broadcaster reported on Friday
MOSCOW (Pakistan Point News / Sputnik - 07th August, 2020) Japanese Nippon Steel company has appealed a South Korean decision to seize and sell its assets to pay reparations for using forced labor during the Second World War, the NHK broadcaster reported on Friday.
Earlier in the week, the South Korean judiciary was reported to begin monetizing the properties, which had been seized from some Japanese companies, including Nippon Steel, causing an uproar in Japan.
According to the broadcaster, the assets in question are the Nippon Steel shares of in a joint venture with South Korean POSCO steelmaking company.
In 2018, the Supreme Court of Korea upheld a decision requiring Japan's Nippon Steel & Sumitomo Metal Corporation, Fujikoshi Corporation and Mitsui Havy Industries to compensate four South Korean nationals for using forced labor during the Second World War.
The decision provoked an outcry in Japan, which claimed that the 1965 agreement between the two countries had resolved the issue of damages once and for all.
