Nippon Steel to appeal against South Korean court allowing asset seizure

Nippon Steel Corp said on Tuesday it will appeal a South Korean court ruling that allows for a seizure of its assets, as tensions between Tokyo and Seoul over the case threaten to flare up again. The Asian neighbours are at loggerheads over a 2018 decision by South Korea's Supreme Court that ordered Nippon Steel to pay compensation for forced labour during World War II.

Japan argues the ruling violates international law because the issue was settled under a 1965 treaty. A ruling by a South Korean lower court last year allowed.

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