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Nippon Steel to file appeal against seizure of assets in South Korea

Asahi reported online that Nippon Steel Corp. released a comment indicating its intent to file an appeal against a South Korean district court order that took effect at 12:00 a.m. today for the seizure of financial assets to use as compensation for former requisitioned workers. “We regard the matter as being ‘resolved completely and finally’ in accordance with the 1965 Agreement on the Settlement of Problems concerning Property and Claims, which was a formal accord reached between the two states,” said the statement. “We will respond appropriately while taking into account diplomatic negotiations between the two governments. We plan to file an immediate appeal with regard to the order for asset seizure.”


In a related story, NHK took up remarks made to the press this morning by Chief Cabinet Secretary Suga, who said: “The South Korean Supreme Court ruling on the case, as well as relevant legal procedures, constitute clear violations of international law. As we have been reiterating to the South Korea side that the liquidation of assets would trigger a serious situation, we will strongly press them to resolve the matter quickly.” As for Japan’s response, the government spokesperson said: “We will continue to respond resolutely while coordinating closely with the company involved from the standpoint of protecting the legitimate economic activities of Japanese enterprises. All options remain open.” 



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