S. Korean court orders seizure of Mitsubishi assets for forced labor victims
- 5 years ago
A South Korean court has approved a request to seize Mitsubishi Heavy Industries' trademark and patent assets.
The decision, made by a district court in Daejeon on Monday ,...comes after the Japanese firm refused to heed an earlier order by the Supreme Court to compensate victims of wartime forced labor.
Mitsubishi will be barred from exercising two trademark rights and six patents,...which is worth around 700-thousand U.S. dollars.
It has now become the second Japanese company to get slammed by a South Korean court.
Nippon Steel and Sumitomo Metal Corporation were stripped of their assets in January for not compensating victims of forced wartime labor.
The decision, made by a district court in Daejeon on Monday ,...comes after the Japanese firm refused to heed an earlier order by the Supreme Court to compensate victims of wartime forced labor.
Mitsubishi will be barred from exercising two trademark rights and six patents,...which is worth around 700-thousand U.S. dollars.
It has now become the second Japanese company to get slammed by a South Korean court.
Nippon Steel and Sumitomo Metal Corporation were stripped of their assets in January for not compensating victims of forced wartime labor.