South Korean steel giant POSCO has announced it will donate an additional 4 billion won, or about 3 million dollars, to a foundation that will compensate those who claim they were forced to work for Japanese firms during World War Two.
The South Korean government unveiled a plan earlier this month to have a government-affiliated foundation compensate the workers in place of the Japanese firms.
In 2018, the country's Supreme Court ordered two Japanese companies to make the payouts.
POSCO, which received economic assistance from Japan based on a 1965 bilateral agreement, has already contributed 6 billion won, or about 4.6 million dollars, to the foundation.
The company said on Wednesday it was making the donation voluntarily in line with the government's plan.
South Korean media say POSCO is the first local company to decide on a payout to the foundation after Seoul's announcement.
The wartime labor issue is expected to top the agenda on Thursday when Japanese Prime Minister Kishida Fumio and South Korean President Yoon Suk-yeol hold a summit in Tokyo.
The South Korean government unveiled a plan earlier this month to have a government-affiliated foundation compensate the workers in place of the Japanese firms.
In 2018, the country's Supreme Court ordered two Japanese companies to make the payouts.
POSCO, which received economic assistance from Japan based on a 1965 bilateral agreement, has already contributed 6 billion won, or about 4.6 million dollars, to the foundation.
The company said on Wednesday it was making the donation voluntarily in line with the government's plan.
South Korean media say POSCO is the first local company to decide on a payout to the foundation after Seoul's announcement.
The wartime labor issue is expected to top the agenda on Thursday when Japanese Prime Minister Kishida Fumio and South Korean President Yoon Suk-yeol hold a summit in Tokyo.
Similar Readings (5 items)
Two South Korean business lobbies donate to wartime labor foundation
S.Korea unveils plan to resolve historical row with Japan
S.Korean foundation makes payment to some plaintiffs over wartime labor
Families of 10 S.Koreans intend to accept govt. fund payment over wartime labor
South Korea unveils plan to resolve historical issue with Japan
Summary
South Korean steel giant POSCO is donating an additional 4 billion won to a foundation for WWII forced labor compensation. Previously, the company had already contributed 6 billion won. This follows the South Korean government's plan to have a government-affiliated foundation compensate affected
Statistics
173
Words1
Read CountDetails
ID: b5b67ca1-2954-4da2-8272-abbffd506b00
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20230315_31/
Date: March 15, 2023
Created: 2023/03/16 07:35
Updated: 2025/12/09 06:12
Last Read: 2023/03/16 16:22