Third-party payments are being pursued by the Japanese and South Korean governments to resolve their forced wartime labor problem. It is planned to establish a foundation for future generations. South Korean Businesses that have benefited A 1965 Agreement can help raise funds and compensate victims via the foundation
A total of 16 enterprises are likely to raise the resources, including POSCO, Korea Expressway Corporation, KT&G, KEPCO and KT. According to the South Korean government it could reach up to each company to join.
The total was US$500 millions According to an agreement signed in 1965, which included US$119.48 millions to POSCO. Positive attitudes are expressed by the company. It ContributionS. It promised a payment of 10 Billion Won in 2012, and it actually paid out three billion Won. Each In 2016 and 2017. Nippon Steel & Mitsubishi Heavy Industries won’t participate as the Japanese government. Oppose Any compensatory payments
The opposition parties and victims are opposed The project. “The South Korean government’s plan is nothing but humiliation and incompetence,” they said.