Debt collector wants Chongryon’s office auctioned off
Wednesday, July 11, 2012
The Resolution and Collection Corp. has asked the Tokyo District Court to set the auction for the building and land used as the head office of the pro-Pyongyang group Chongryon.
The government-backed debt collector is seeking to recover the roughly ÂĄ62.7 billion debt owed by the group, also known as General Association of Korean Residents in Japan, now that a court ruling ordering Chongryon to fully repay the debt has been finalized.
Chongryon’s head office effectively serves as North Korea’s de facto embassy in Japan in the absence of diplomatic ties between the two countries. The 10-story building, with two basement floors, was built in 1986 on a 2,300-sq.-meter parcel in Chiyoda Ward, Tokyo.
The Supreme Court in late June let stand a lower court decision confirming….”