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Mitsubishi Heavy again challenges asset sale order in S. Korea

  • April 15, 2022
  • , Jiji Press , 10:30 p.m.
  • English Press

Seoul, April 15 (Jiji Press)–Mitsubishi Heavy Industries Ltd. <7011> on Friday again filed an appeal with South Korea’s Supreme Court over an order to seize assets of the Japanese company in South Korea related to a wartime labor lawsuit.

If the appeal is rejected again, procedures to sell the assets are expected to proceed, sources familiar with the situation said.

On the lawsuit, the ruling ordering the company to pay compensation to South Koreans who were requisitioned to work for the company during World War II became final in 2018.

In September last year, Daejeon District Court ordered the sale of Mitsubishi Heavy’s trademark and patent rights to pay two of the plaintiffs.

The company immediately filed an appeal, but it was rejected in January this year. This time, the company filed an appeal over the sale of the assets for one plaintiff.

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