'Gov't Not Liable for Damages from its Sanctions on N. Korea'

Write : 2015-06-24 18:38:03 Update : 2015-06-24 18:43:03

'Gov't Not Liable for Damages from its Sanctions on N. Korea'

A South Korean company has lost a suit against the government seeking compensation for its scrapped project at the Gaeseong Industrial Complex.

The Supreme Court on Wednesday ruled against the plaintiff, upholding the lower courts’ decision.

The property developer acquired the right to use land in the industrial complex in 2007 from South Korea's Korea Land and Housing Corporation, but its development project fell apart after the Seoul government imposed sanctions on the North following the sinking of the Cheonan naval vessel in 2010.

The firm filed a compensation suit against the government which was rejected by the lower courts citing the need for strong sanctions against North Korea at times of national crisis such as the Cheonan sinking.

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