The dispute over colonial-era forced labour has been a source of dispute between the United States allies Read more at straitstimes.com.
through its own public foundation, instead of using funds from Japanese companies, in a move aimed at improving soured relations between the two countries.
South Korea President Yoon Suk Yeol may visit Japan for talks with Prime Minister Fumio Kishida later this month, the Seoul-based Yonhap News Agency reported, citing unidentified sources. Previous reports have said Mr Yoon could be invited as a guest to the Group of Seven summit in Japan in May if the disputes were smoothed over.
Company assets had been impounded in a move toward selling them off to fund the compensation, which would have further worsened ties. The deal will include a tentative plan to create a “future youth fund” supported by contributions from Japan’s Keidanren business federation and its South Korean counterpart, Yonhap said.
The WTO agreed in 2020 to mediate the spat between the countries over Japanese restrictions on three classes of chemicals used in the production of smart-phone displays, TV screens and semiconductors. South Korea called the restrictions a “politically motivated” move that hurt South Korean manufacturers such as Samsung Electronics and SK Hynix.
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