Seoul: South Korea has seized shares of two Japanese steel companies in connection with lawsuits over forced labor during Japan's colonial rule, Japanese daily Sankei reported Friday. The move comes as part of ongoing legal action by South Koreans who claim they were forced to work for Japanese firms during World War II.

According to Anadolu Agency, the seized holdings include 460 million won ($333,000) worth of shares from Nippon Steel and 320 million won ($231,000) from JX Metals. This development is part of a broader demand by the support group representing the plaintiffs, urging the companies to "acknowledge the fact of forced labor, apologize, and provide compensation."

Analysts have indicated that it may take some time before the seized shares can be sold and converted into cash to provide the demanded compensation. The situation remains tense, with implications for both diplomatic and economic relations between South Korea and Japan.