04
Aug
15:55
Nippon Steel to appeal South Korean asset seizure
Nippon Steel says it will appeal a South Korean court ruling that allows for its Korean assets to be seized.
The assets of Nippon Steel involved are its stake in a joint venture with South Korean steelmaker Posco, Kallanish notes. Nippon Steel's shares in the joint venture, called PNR, are worth about KRW 400 million ($334,500) at face value.
A South Korean official says that even if the assets are sold, it will take at least several months to complete. …
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