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Japanese company’s Korean assets targeted over WW2 row

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

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