Business

The North Korean company sues its South Korean counterpart in law first

Seoul: In what appears to be a legal precedent, a North Korean company has filed a lawsuit seeking damages against its South Korean counterpart, Yonhap News reported on Thursday.

Citing legal sources in the lawsuit filed in the Seoul Central District Court in 2019, the agency reported that the North Korean company is asking for 5.3 billion won for an alleged unpaid invoice related to a supply contract.

Yonhap said the bill relates to the supply of about 2,600 tons of zinc, which the South Korean company said it had paid for.

The agency did not mention either company.

A local radio station, A, said South Korea’s Unification Ministry had been aware of the dispute and was gathering details.

The first ruling in the case is expected in April, the lawyer representing the North Korean company told Yonhap Agency.

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