S. Korea Industry Groups Donate 3 B. Won for Wartime Labor Payments

Seoul, April 14 (Jiji Press)--Two major South Korean economic organizations have donated a total of 3 billion won to a Seoul-affiliated foundation that pays compensation to plaintiffs on behalf of Japanese companies sued over wartime labor, it was learned Monday.

According to sources from the South Korean Foreign Ministry, the Korea Chamber of Commerce and Industry and the Federation of Korean Industries each contributed 1.5 billion won to the foundation, which is struggling with a funding shortfall.

Under a plan announced by the South Korean government in March 2023 to resolve a dispute with Tokyo, plaintiffs who won compensation for being requisitioned to work for Japanese firms during World War II will receive payments equivalent to the compensation amounts from the foundation.

The payments are slated to be financed by donations from South Korean corporations, but steelmaker Posco’s 6-billion-won contribution is the only large donation so far.

The foundation was at risk of running out of funds following a series of South Korean Supreme Court rulings finalizing compensation orders for Japanese companies.

[Copyright The Jiji Press, Ltd.]