japan south korea

Japan’s Kyodo News reported that the Japanese and South Korean governments are discussing the establishment of a joint economic fund to resolve the forced compensation for workers in World War II. However, the news was denied by the Japanese and South Korean government, indicating that the report was incorrect.

Kyodo News reported on October 28 that Japan and South Korea intend to set up a joint economic fund to solve the forced compensation for workers in World War II. The report said that the Japanese government will not pay any money, and the relevant funds are mainly composed of companies from both countries. The discussion is still ongoing.

However, on the 29th, Japanese Chief Cabinet Secretary Yi Yiwei denied the relevant reports at the press conference. Yan Yiwei said that the report was not correct. The Korean Foreign Ministry also stated that the relevant programs have not been discussed with the Japanese authorities.

The South Korean Supreme Court ruled in October 2018 that Japanese companies were required to compensate the victims and their families for the forced labor of the year. The Japanese side protested on the grounds that South Korea had waived its claim for compensation in the Japan-Korea Treaty. The relationship between the two countries has become increasingly tense. By July 2019, Japan removed South Korea from the export whitelist for security reasons and implemented export controls, triggering a large-scale anti-Japanese demonstration in South Korea, and the relationship between the two countries fell to the bottom.

South Korean Prime Minister Lee Loon-woo visited the Deren Emperor’s assault on October 24, and met with Prime Minister Shinzo Abe. The two countries agreed to start a dialogue on resolving the incident and hope to break the deadlock.


Sign Up for Our Newsletters

Get notified of important news and special executive deals.

You May Also Like

Japan’s Korean semiconductor materials war affects Trump’s “emerging hands”

Who will be affected by the economic war in Japan and South…

Shide Global: Trade wars affect the VIP room business worse than expected

The market’s worries about the Macau gaming industry continued, mainly due to…

Tencent’s first overseas video streaming service settled in Thailand

Tencent (0700) released its first overseas video streaming service in Thailand. “Reuters”…

Tokyo Olympics or fetal death? Japan bets on winning the “four-year dream”

This year is the Olympic year, and the much-anticipated Olympic Games will…