Whether the property of a domestic company established in Korea, in which the entire shares were owned by a Japanese citizen as of August 9, 1945, is property devolving upon its own interest (negative)

Even if all shares as of August 9, 1945 were owned by Japanese nationals, if that company is a domestic company established in Korea prior to August 9, 1945, only its shares shall revert to the State, and the property shall not belong to the State.

Article 2 (3) of the Act on the Disposal of Property Belonging to Jurisdiction

Attorney Choi Jong-tae et al., Counsel for the National Agricultural Cooperative Federation, a party taking charge of the agricultural cooperative lawsuit in Busan-gun

Countries

Daegu High Court Decision 78Na831 delivered on February 28, 1980

The judgment of the court below is reversed, and the case is remanded to Daegu High Court.

The grounds of appeal by the Plaintiff’s attorney are examined.

According to the reasoning of the judgment below, the court below held that, on August 9, 1945, the real estate which was registered as owned by the non-party company as of the time of registration was owned by the non-party company as of the time of registration on the ground that the shareholder of the non-party shipbuilding corporation as of August 9,

However, even if all shares were owned by Japanese citizens as of August 9, 1945, it is apparent in light of the provisions of Article 2(3) of the Act on the Disposal of Property to which only the shares will revert to the State if the domestic company was established in Korea prior to August 9, 1945, and the ownership of the shares will not belong to the State. Thus, the court below did not examine whether the above non-party company was established in Korea prior to August 9, 1945, and did not determine whether it was a corporation established in Korea prior to the above non-party company. Thus, the court below did not err by misapprehending the legal principles of the Act on the Disposal of Property to which the ownership belongs, which led to failure to exhaust all necessary deliberations.

Therefore, the judgment of the court below is reversed without examining the remaining grounds for appeal, and the case is remanded to the Daegu High Court which is the original judgment. It is so decided as per Disposition by the assent of all participating Justices on the bench.

Justices Jeong Jong-tae (Presiding Justice) Kim Jong-young (Presiding Justice)