Biz lobbies of S. Korea, Japan to announce cooperation plans after forced labor proposal

-- Business lobbies of South Korea and Japan were set to announce plans Thursday on how they will cooperate in the future, including ways to support youth exchanges, following Seoul's resolution to the row over Japan's wartime forced labor.

The Federation of Korean Industries (FKI) and the Japan Business Federation, or Keidanren, will make the announcement in a joint press conference at the Keidanren headquarters in Tokyo this afternoon, the FKI said.

The announcement is expected to include plans for creating a "future youth fund," proposed by Seoul to sponsor scholarships and promote other private exchange programs for the younger generations.

The idea was a part of South Korea's proposed resolution to the longstanding row over compensating Korean victims of Japan's forced labor during World War II.

Last week, Seoul said it will compensate the victims through a public foundation funded by donations from South Korean businesses, instead of the accused Japanese companies, a decision seen as a show of President Yoon Suk Yeol's commitment to improving bilateral relations badly frayed over wartime history issues.

Yoon is on a two-day visit to Japan and set to hold a summit with Japanese Prime Minister Fumio Kishida later in the day.

Source: Yonhap News Agency

scroll to top