Northern Company Loses Lawsuit Over Payment for Goods Against Korean Company... "We Will Appeal"

Director Kim Han-shin is answering reporters' questions as he leaves the courtroom. [Image source=Yonhap News]

[Asia Economy Reporter Seongpil Cho] A North Korean company filed a lawsuit in a South Korean court claiming it did not receive payment after exporting copper to a South Korean company, but lost in the first trial.

On the 6th, Judge Chunsu Kim of the Civil Division 27 at the Seoul Central District Court ruled against the plaintiffs, the North Korean economic organization Choson Minjok Economic Cooperation Federation and the North Korean company Myongji General Company, in a lawsuit claiming payment for goods against four South Korean companies. While lawsuits between individuals from South Korea and North Korea have occasionally occurred, this was the first case of a North Korean company filing a lawsuit in a South Korean court.

Previously, in 2010, Myongji General Company supplied zinc to a domestic company but did not receive about 5 billion won in payment and filed a lawsuit to claim this amount. On the other hand, the domestic companies argued that they had already paid the full amount to a Chinese company that mediated the transaction, and the court accepted this argument.

Kim Hanshin, director of the South-North Economic Cooperation Research Institute, who proceeded with the lawsuit as a joint plaintiff on behalf of the Min Kyung-ryeon and Myongji General Company, stated after the verdict, "We lost because we could not submit sufficient documents due to the COVID-19 pandemic, but we will consult with our lawyers and appeal."

This content was produced with the assistance of AI translation services.