Dr Keyvan Jafari Tehrani, Senior International Steel and Iron ore market analyst, regarding the raised intention between Japan and South Korea on Nippon Steel Company in an Interview with Mines and Metals stated:\u201d August 15th 2020 is the 75th Anniversary of Liberation Day for both South and North Korea, which both countries celebrate annually. After the defeat of Japan and Germany in World War II and US attacked Hiroshima and Nagasaki by atomic bombs, Japanese leadership has ended in both North and South Korea.
\u201cTen days earlier, on August 5th, a dispute between Tokyo and Seoul escalated, as a result South Korean Supreme Court ruling that Japan\u2019s Nippon Steel\u2019s property, Japanese largest steelmaker, should be confiscated in South Korea. As it is known, Nippon Steel Company joined the subsidiaries of ArcelorMittal Company at the end of 2019, which is why this company will automatically get involved in this tension.\u201d, he also added.
\u201cDue to the fact that Japan used South Korean workers to build weapons during World War II, South Korea demanded that Japanese Nippon Steel Company should pay compensation and have its property confiscated in South Korea last Tuesday. Following this incident, Japanese officials have also announced that if South Korea does so, Japan will stop exporting high tech electronic chips to South Korean Samsung Company, which has caused tensions in Far East. South Korean President in a speech on South Korea and North Korea\u2019s liberation day anniversary announced explicitly:\u201d We urge Japan to pay compensation for the raised issues and we will not withdraw any way.\u201d, this senior analyst said.
\u201cIt seems that such tensions in Far East are likely to affect economy and steel market as well, in result South Korea\u2019s steel power in current situation of Covid-19 is stronger than Japan\u2019s, it will threaten Japanese economy.\u201d, Mines and Metals learned from MR Tehrani.<\/p>\n\n\n\n