The plan reflects conservative South Korean President Yoon Suk Yeol’s determination to mend frayed ties with Japan and solidify a trilateral Seoul-Tokyo-Washington security cooperation to better cope with North Korea’s nuclear threats. But it's drawn an immediate backlash from former forced laborer and their supporters, who have demanded direct compensation from the Japanese companies.
Observers had earlier said the foundation would be funded by South Korean companies, which benefited from a 1965 Seoul-Tokyo treaty that normalized their relations. The accord was accompanied by hundreds of millions of dollars in economic aid and loans from Tokyo to Seoul that were used in development projects carried out by major South Korean companies, including POSCO, now a global steel giant.
Japan, which insists all wartime compensation issues were settled under the 1965 treaty, reacted furiously to the 2018 rulings, placing export controls on chemicals vital to South Korea’s semiconductor industry in 2019, citing the deterioration of bilateral trust.
Americans bombed Hiroshima and Nagasaki, Japanese people became their whipping dogs.
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