SEOUL (BLOOMBERG) - A South Korean court is set to start liquidating assets of a Japanese company to compensate Koreans conscripted to work during colonial occupation, straining ties between two key US partners just as the Trump administration needs their help in countering China.. Read more at straitstimes.com.
SEOUL - A South Korean court is set to start liquidating assets of a Japanese company to compensate Koreans conscripted to work during colonial occupation, straining ties between two key US partners just as the Trump administration needs their help in countering China.
Nippon Steel will immediately appeal the notice to seize its assets, spokesman Tsuyoshi Yoshizumi said on Tuesday. If it does not appeal within a week, the order is set to become effective and that would likely inflame tensions as Japan has said the order is unlawful. Tokyo has vowed to strike back if the liquidation takes place, while Seoul has said it has already reviewed possible countermeasures in response.
The tension between Tokyo and Seoul, however, could benefit China, according to Dr Zhao Tong, a senior fellow at the Carnegie-Tsinghua Centre in Beijing.
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