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INTERNATIONAL > East Asia & Pacific

S. Korea court drops order for Mitsubishi Heavy asset seizure

  • September 2, 2021
  • , Jiji Press , 9:32 p.m.
  • English Press

Seoul, Sept. 2 (Jiji Press)–A South Korean district court withdrew on Thursday its order to seize monetary claims which it believed Japan’s Mitsubishi Heavy Industries Ltd. <7011> have on a South Korean company, in connection with the wartime labor issue.

 

The move came after the company, LS Mtron, said in a statement filed to the court last month that its creditor was actually Mitsubishi Heavy Industries Engine Systems Ltd. and not Mitsubishi Heavy Industries. Mitsubishi Heavy Industries Engine Systems is part of the Mitsubishi Heavy Industries group.

 

In the finalized 2018 ruling, South Korea’s Supreme Court ordered Mitsubishi Heavy Industries to pay compensation to Koreans who worked for the Japanese company during World War II.

 

But Mitsubishi Heavy Industries refused to follow the verdict, and the plaintiffs’ side filed a petition asking the district court to seize the company’s assets in South Korea.

 

Following the petition, the Anyang branch of Suwon District Court ordered in August the seizure and collection of Mitsubishi Heavy Industries’ monetary claims against LS Mtron.

 

LS Mtron’s statement means that Mitsubishi Heavy Industries has no monetary claims on the South Korean company that can be seized. The plaintiffs’ side thus withdrew the petition, their lawyer said Thursday.

 

“We judged that LS Mtron’s statement was true,” the lawyer said, while explaining that the misunderstanding came from a mistake in LS Mtron’s official documents.

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