South Korea calls for dialogue with Tokyo on Nippon Steel asset seizure

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South Korea calls for dialogue with Tokyo on Nippon Steel asset seizure

South Korea has stressed the importance of dialogue with Japan as a court ruling allowing Nippon Steel’s assets to be seized is due to take effect. The confiscation is meant to be compensation for wartime labour during Japanese colonial rule. In 2018, South Korea’s Supreme Court ordered Nippon Steel to pay $83,800, but Japan claimed the issue had been settled under a 1965 treaty and that the court judgement violates international law.

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