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INTERNATIONAL > East Asia & Pacific

S. Korean court orders collection of assets from Mitsubishi Heavy

  • August 19, 2021
  • , Jiji Press , 11:36 a.m.
  • English Press

Seoul, Aug. 19 (Jiji Press)–A South Korean district court has issued an order to seize and collect assets of Mitsubishi Heavy Industries Ltd. <7011> of Japan, in connection with the wartime forced labor issue, a lawyer from the plaintiffs’ side has revealed.

 

The move followed the finalized ruling by South Korea’s Supreme Court in November 2018 that ordered Mitsubishi Heavy to pay compensation to Koreans who worked for the firm during World War II.

 

According to the lawyer, the Anyang branch of the Suwon District Court on Aug. 12 issued the court decision ordering the seizure and collection of monetary claims by the Japanese firm against a South Korean company. The court order was put into effect on Wednesday.

 

The lawyer said that the latest court order will allow the plaintiffs’ side to negotiate with Mitsubishi Heavy to have the firm pay compensation, acknowledge the “historic fact” of wartime labor and make an apology.

 

If Mitsubishi Heavy continues to refuse to follow the Supreme Court order, the plaintiffs will collect the claims based on the collection order by the district court, the lawyer warned.

 

The plaintiffs’ side asked the district court to issue an order to seize and collect assets of Mitsubishi Heavy earlier this month.

 

The assets ordered to be seized are worth around 8.53 billion won, including compensation and delay damages.

 

As Supreme Court rulings ordering Mitsubishi Heavy and Nippon Steel Corp. <5401>, formerly called Nippon Steel & Sumitomo Metal Corp., to pay compensation for wartime labor have been finalized, efforts to convert the seized assets of the two firms in South Korea have started to make headway in the country.

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