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Attorneys representing South Korean victims of forced labor relay a video message from Lee Chun-sik (95)

The victims of forced labor during the Japanese colonial occupation of Korea have moved ahead in the process of seizing South Korean assets held by Nippon Steel and Sumitomo Metal, a Japanese company that committed war crimes during World War II. This step comes in response to the refusal by the company in question and the Japanese government to pay compensation as ordered by the South Korean Supreme Court in Oct. 2018.

If the assets are actually seized, there’s expected to be a sharp backlash from Japan, which is already upset about an incident in which a South Korean naval vessel aimed its targeting radar at a Japanese patrol plane. The Japanese government has previously declared that it would retaliate by impounding South Korean government assets in Japan.

The team of attorneys representing the victims of compulsory mobilization by Nippon Steel and Sumitomo Metal announced on the afternoon of Jan. 2 that they had initiated compulsory court execution procedures against the company, which has failed to obey the Supreme Court’s ruling.

On Dec. 31, the last day of 2018, Lee Chun-sik (95) and another surviving victim of compulsory mobilization filed a request for seizure of assets to enable them to receive the compensation they are owed (100 million won [US$88,603] each for four victims) according to the ruling by the full panel of the Supreme Court. The request was submitted to the Pohang branch of the Daegu District Court, which had jurisdiction in this case.

The assets that may be subject to seizure are some 2.34 million shares in PNR, a company specializing in recycling the byproducts of steel refining that was established by Nippon Steel and Sumitomo Metal in partnership with South Korean company POSCO. The team of attorneys has determined that Nippon Steel and Sumitomo Metal’s shares in PNR (representing a 30% stake in the company) are worth at least 10 billion won (US$8.86 million).

When a seizure request is filed to protect an award for damages, a seizure order is issued following a review of the court decision. From the moment that PNR receives the court’s seizure order, it will be unable to dispose of its assets. But since Nippon Steel and Sumitomo Metal and other PNR creditors have the option of lodging an objection to the stock seizure, the actual execution of the seizure isn’t expected to go smoothly.

When filing a request for the seizure of stocks or other assets with the court, it’s normal to also apply for a stock sale order to liquidate the stock. But the team of attorneys announced that they haven’t applied for a stock sale order, in order to leave open the possibility of negotiating.

“Through deliberations with Nippon Steel and Sumitomo Metal, we would like to achieve an amicable resolution to the question of compulsory mobilization that includes the implementation of the court’s decision. We once again urge the company to quickly engage in negotiations to find a remedy for the victims’ rights,” the attorneys said.

On Dec. 4, the attorneys personally visited the Nippon Steel and Sumitomo Metal main office in Tokyo to request an interview, but they were rebuffed. After that, the attorneys announced that they would initiate the compulsory execution procedures if the company did not join deliberations about the court’s damages ruling by 5 pm on Dec. 24. But Nippon Steel and Sumitomo Metal didn’t take any action by the time stipulated by the attorneys.

“Our application for asset seizure is aimed at ensuring that the Korean legal decision is implemented legitimately and is also the first step toward realizing the rights of the victims to ask for compensation for damages, an official apology and prevention of a recurrence in accordance with international human rights law,” the team of attorneys said on Wednesday.

“We express our strong regret for the disregard of human rights evinced by the lack of the slightest gesture toward obeying the court judgment before the end of the year. We also express our strong regret for the Japanese government, which has publicly slandered the South Korean judiciary’s decision and has pressured Japanese companies to disobey its ruling.”

By Ko Han-sol, staff reporter

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