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INTERNATIONAL > East Asia & Pacific

Mitsubishi Heavy appeals asset sale order in S. Korea

  • October 20, 2021
  • , Jiji Press , 6:01 p.m.
  • English Press

Seoul, Oct. 20 (Jiji Press)–Mitsubishi Heavy Industries Ltd. <7011> has filed an immediate appeal against a South Korean court’s ruling ordering the Japanese company to sell some of its assets in South Korea over a wartime labor lawsuit, company officials said Wednesday.

The plaintiff side of the lawsuit has already seized Mitsubishi Heavy trademark and patent rights in South Korea.

In September, Daejeon District Court issued an order to sell the rights, after a ruling by South Korea’s Supreme Court ordering the company to pay compensation to South Koreans requisitioned to work for it during World War II.

This marked the first court order to sell assets of a Japanese company in South Korea over a wartime labor issue.

In South Korea, judicial procedures are being taken to convert Mitsubishi Heavy assets into cash despite the Japanese government’s strong opposition.

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