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Japan protests against Korean court's asset seizure order on Mitsubishi for forced labor compensation
Updated: 2021-08-19 17:02:30 KST
Regarding a recent decision by a local court ordering the seizure of Japanese firm Mitsubishi Heavy Industries' Korea-based assets, Seoul's foreign ministry said they are currently monitoring the situation.
This comes after the Japanese government protested against the ruling on Thursday, calling it a "violation of international law" and reiterating that the liquidation of Japanese companies' assets in Korea will result in "serious consequences."
A Korean court recently ordered the seizure of assets that Japan's Mitsubishi Heavy Industries holds in Korea, following a South Korean Supreme Court ruling in 2018 that ordered the company to compensate Korean victims of wartime forced labor.
The Anyang Branch of the Suwon District Court recently ruled in favor of the family members of the victims, ordering the seizure of roughly 725-thousand U.S. dollars from LS M-tron, a Korean firm that owes the money to Mitsubishi.
The families requested the seizure earlier this month as Mitsubishi continues to refuse to pay compensation.
The amount consists of around 290-thousand dollars of compensation, with the rest coming from other costs, including a penalty for not paying on time.
The Japanese company has been ignoring the 2018 order to compensate the victims, insisting the compensation issue has been "completely resolved" following a Seoul-Tokyo bilateral treaty in 1965.
Yoon Jung-min, Arirang News.
Updated: 2021-08-19 17:02:30 KST
Regarding a recent decision by a local court ordering the seizure of Japanese firm Mitsubishi Heavy Industries' Korea-based assets, Seoul's foreign ministry said they are currently monitoring the situation.
This comes after the Japanese government protested against the ruling on Thursday, calling it a "violation of international law" and reiterating that the liquidation of Japanese companies' assets in Korea will result in "serious consequences."
A Korean court recently ordered the seizure of assets that Japan's Mitsubishi Heavy Industries holds in Korea, following a South Korean Supreme Court ruling in 2018 that ordered the company to compensate Korean victims of wartime forced labor.
The Anyang Branch of the Suwon District Court recently ruled in favor of the family members of the victims, ordering the seizure of roughly 725-thousand U.S. dollars from LS M-tron, a Korean firm that owes the money to Mitsubishi.
The families requested the seizure earlier this month as Mitsubishi continues to refuse to pay compensation.
The amount consists of around 290-thousand dollars of compensation, with the rest coming from other costs, including a penalty for not paying on time.
The Japanese company has been ignoring the 2018 order to compensate the victims, insisting the compensation issue has been "completely resolved" following a Seoul-Tokyo bilateral treaty in 1965.
Yoon Jung-min, Arirang News.
