Tokyo Mulling Action over S. Korean Asset Seizure


Tokyo, Jan. 7 (Jiji Press)--The Japanese government is considering taking measures against a move by South Korean plaintiffs in a wartime labor lawsuit to seize the assets of a Japanese firm, officials said Monday.

Japan apparently hopes to warn Seoul, which has done little to dispel its concerns sparked last October by a South Korean Supreme Court ruling that ordered Nippon Steel & Sumitomo Metal Corp. <5401> to pay compensation to the plaintiffs.

Tokyo's position is that the compensation issue was resolved under a 1965 bilateral agreement on claims and economic partnership concluded when their diplomatic relations were normalized.

For the time being, Tokyo is expected to seek bilateral talks with Seoul based on the pact, according to the officials.

In a Japan Broadcasting Corp. (NHK) program aired Sunday, Prime Minister Shinzo Abe said he has instructed related government officials to consider specific steps.

[Copyright The Jiji Press, Ltd.]

Jiji Press