Top business leaders from Japan and South Korea announced Wednesday they will use a fund meant to underscore the two countries' burgeoning ties to strengthen their cooperation in energy, industry and other sectors.
Japan Business Federation, known as Keidanren, and its South Korean counterpart, the Federation of Korean Industry, announced a fund of 200 million yen ($1.5 million) in March. The money comes from an initial installment of 100 million yen ($750,000) from each side to complement efforts initiated by South Korean President Yoon Suk Yeol's government to resolve a historical dispute over Japanese brutality during its 1910-1945 colonial rule of the Korean Peninsula.
