S. Korean Court Orders Sale of Seized Mitsubishi Heavy Assets

Society

Seoul, May 2 (Jiji Press)--A South Korean district court has ordered the sale of some of Mitsubishi Heavy Industries Ltd. <7011> assets in South Korea that have been seized over a wartime labor lawsuit, a group that supports the plaintiffs said Monday.

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

The district court ordered two patent rights seized from Mitsubishi Heavy to be sold.

This is the third court order instructing the sale of seized Mitsubishi Heavy assets in South Korea.

The Japanese government has refused to accept the top court ruling, which has become final, regarding it as violating international law, and has expressed strong opposition to any move to cash in assets seized from Japanese companies.

[Copyright The Jiji Press, Ltd.]

Jiji Press