S. Korea Court Orders Seized Mitsubishi Heavy Assets to Be Sold

S. Korea Court Orders Seized Mitsubishi Heavy Assets to Be Sold

   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, according to a local newspaper report.
   The district court order followed a ruling by the country's Supreme Court ordering the Japanese company to pay compensation to former wartime workers.
   With the Japanese government strongly criticizing the ruling as violating international law, the two countries' relationship would worsen further if the plaintiffs in the lawsuit sell Mitsubishi Heavy assets, based on the court order.
   The newspaper report said the court ordered two trademark rights and two patent rights seized from Mitsubishi Heavy to be sold, in order to pay about 210 million won, or about 20 million yen, each to two plaintiffs.
   In response to Jiji Press' inquiries, Mitsubishi Heavy said the court order is extremely regrettable and that the company will immediately file a protest against it and take appropriate action while communicating with the Japanese government.

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