S. Korea Court Orders Sale of Mitsubishi Assets


Seoul, Sept. 27 (Jiji Press)--A district court in South Korea on Monday issued an order for some of the seized Mitsubishi Heavy Industries Ltd. <7011> assets in the country to be sold over a wartime labor lawsuit, a group that supports plaintiffs said.

The decision by Daejeon District Court followed a ruling by the country's Supreme Court ordering the Japanese company to pay compensation to plaintiffs for wartime labor.

The ruling marked the first time that a South Korean court has ordered the sale of a Japanese company's assets in a damages suit filed over wartime labor.

The Japanese government has strongly opposed the sale of seized Japanese corporate assets, criticizing the Supreme Court ruling as violating international law.

If the Mitsubishi Heavy assets are actually sold, relations between Japan and South Korea will worsen further.

[Copyright The Jiji Press, Ltd.]

Jiji Press