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Nippon Steel


  • Originally published 08/18/2013

    Steel maker to pay if Korean ruling upheld

    Nippon Steel & Sumitomo Metal Corp. will comply if the South Korean Supreme Court upholds a ruling ordering it to pay 400 million won (about ¥35 million) to compensate four Koreans who were for forced to work for its predecessors during the war, company sources said Sunday.The Seoul High Court ruled in favor of the plaintiffs on July 10, marking in the first judgment by a South Korean court ordering a Japanese firm to pay in a case involving postwar reparations.After appealing the ruling, however, NSSMC has apparently changed its mind.“We, as a global company, can’t help but accept (the ruling),” one of the sources said, hinting that failure to comply might lead to seizure of the company’s assets in South Korea....