South Korea Confiscates Shares in Japanese Steel Corporations

2025-08-24 04:07:07

(MENAFN) South Korea has confiscated shares in two Japanese steel corporations linked to ongoing lawsuits over forced labor during Japan’s colonial rule, media reported Friday.

This action stems from legal claims filed by South Koreans who assert they were coerced into working for Japanese companies during World War II.

The seized assets include shares valued at 460 million won ($333,000) from Nippon Steel and 320 million won ($231,000) from JX Metals.

Representing the plaintiffs, the support group demanded that the firms “acknowledge the fact of forced labor, apologize, and provide compensation.”

Experts caution that converting these shares into cash for reparations could be a lengthy process.

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