“Expropriation” Korean court goes to procedure for asset sale Japan also has countermeasures

“Expropriation” Korean Court Going for procedure to sell assets Japan also takes countermeasures at 6:32 on August 4

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Due to the issue of "commissioning" during the Pacific War, a Korean court published a document ordering the seizure of the assets of a defendant Japanese company on its website for two months, and as a result, it reached the Japanese side at midnight on the 4th. Regarded as There is a prospect that it will take at least a few months in the future, but it is expected that we will seriously enter into the procedure for selling the asset, but in the case of cashing, the Japanese government is considering taking countermeasures, There is concern that the relationship between Japan and South Korea will worsen.

In South Korea, the Supreme Court decided in October that the Nippon Steel & Sumitomo Metal Corporation and the current Japan Steel Works would indemnify four Koreans who claimed to have been forced to work in Japan as conscription workers during the Pacific War. I handed over.

Regarding this, the Japanese government has asked the Korean government to rectify the state of violation of international law, saying that it has been settled under the Japan-Korea claim right agreement, and Nippon Steel has not responded to compensation.

Under these circumstances, a court in South Korea, in response to the complaint of the plaintiff, issued a decision ordering the seizure of shares in a joint venture company with a major Korean steel company in June, as an asset of Nippon Steel in South Korea. I took the procedure of "public notice service" to publish on the homepage.

Then, two months later, at 4 a.m. on the 4th, it was considered that the documents had arrived at the Nippon Steel side, and the "public notice service" became effective.

The Nippon Steel side will make an immediate appeal in the future.

While we expect full-fledged proceedings to proceed with the sale of assets, several major South Korean media have reported that it will take at least several months for asset appraisals.

While the Korean government has not changed its position of respecting judicial decisions, the Japanese government is also considering taking countermeasures if the court orders cash sale and sells assets in the future. There is concern that the situation will worsen.

What assets are you looking for

In this trial, the plaintiffs demanded the seizure of shares of the joint venture company "PNR" established in 2008 by Nippon Steel and South Korean steel giant "POSCO".

Nippon Steel owns 30% of the total shares, and according to the plaintiffs side, the foreclosure target is about 81,000 shares, of which the face value is more than 400 million won, about 36 million yen. It is equivalent to a yen.

The head office of "PNR" is located on the premises of the head office factory of "POSCO" in Pohang (Pohang), South Korea, and is engaged in the business of producing iron by recycling the waste from the factory.

According to the Korean news agency, Union News, "PNR" has more than 70 employees and annual sales of JPY 3.3 billion.

Nippon Steel “Immediate appeal”

A major steel maker, Nippon Steel, "understands that the problem of the recruitment has been "completely and finally resolved" by the formal agreement between Japan and Korea". "In light of the situation of diplomatic negotiations between the Japanese and Korean governments, we will immediately file an appeal against procedures for the seizure of assets."

Watching the Japanese government's appearance Policy to start full-scale examination of countermeasures, etc.

A group of members of the Liberal Democratic Party compiled a resolution yesterday calling for effective sanctions on the Korean government immediately if the property is sold and cashed.

The Japanese government repeatedly demands the Korean government to promptly provide a solution, saying that the series of procedures is a clear violation of international law and that if the assets are sold, bilateral relations could fall into a serious situation. ..

And this time, first of all, we will pay close attention to the Korean side, and in preparation for the sale of assets, we plan to make full-scale examination of concrete countermeasures and claims for damages.