South Korea keeps waging economic warfare on Japanese competitors by leveraging historical disputes… which were supposedly resolved by the 1965 treaty and the payment of over $800 million in reparations.
After seizing Nippon Steel & Sumitomo Metal Corp.’s assets in a joint venture with POSCO and threatening to do the same with assets owned by Mitsubishi Heavy Industries, Korean courts have allowed the seizure of Nachi-Fujikoshi’s stake in Daesung-Nachi Hydraulics Co.
Steel, shipbuilding and industrial machinery. An interesting way to regain control from foreign ownership at a time when Korean companies are being squeezed between Chinese emergence and Japanese resilience…
Picture credits: Kyodo