Japan, S. Korea Biz Groups Mulling Joint Youth Fund

Seoul, March 5 (Jiji Press)--The Japan Business Federation, or Keidanren, and the Federation of Korean Industries are considering setting up a joint fund for young people, it was learned Sunday.

The move comes while the governments of Japan and South Korea are planning not to require Japanese companies to donate to a South Korean foundation that would pay compensation for former Korean wartime laborers on behalf of Japanese companies.

The South Korean government is expected to announce a solution to the wartime labor issue on Monday, while mentioning the joint fund being eyed by the Japanese and South Korean business groups.

Kim Sung-han, head of South Korea's National Security Office, told reporters on Sunday that future generations are the most important for the two countries to usher in a new era of bilateral relations.

Kim noted that talks are underway on what roles they could play in business and other fields.

[Copyright The Jiji Press, Ltd.]