Seoul plans to announce its solution to the issue of compensation for Korean victims of Japan’s wartime forced labor on Monday.
Under the purported plan, about four billion won, or some three million U.S. dollars, will be paid to the 15 victims involved in the 2018 Supreme Court rulings against two Japanese companies through a fund to be created by the Foundation for Victims of Forced Mobilization by Imperial Japan under the interior and safety ministry .
The government is expected to encourage contributions to the fund by South Korean companies that benefited from a 1965 treaty normalizing diplomatic relations between the two countries under which Japan provided economic aid and loans. It is expected to leave the door open to possible participation by Japanese companies as well.
South Korea and Japan are also reportedly considering creating a joint youth fund through major business organizations of the two nations to help resolve the issue.
However, the two Japanese firms implicated in the lawsuits – Nippon Steel and Mitsubishi Heavy Industries – are expected to abstain from participating in the compensation plan, which will likely trigger strong protest from the victims and their supporters.
The victims and supporters’ groups are scheduled to hold press conferences later in the day to announce their responses to the government’s plan and hold rallies in protest.