Japan, South Korea business lobbies to launch foundations to deepen ties

The major business lobbies in Japan and South Korea said Thursday they will each establish a foundation to jointly tackle common issues, including energy, and promote youth exchanges, a move that could help repair bilateral relations, which soured over a wartime labor compensation dispute.The announcement by the Japan Business Federation and the Federation of Korean Industries to launch their "future partnership" foundations came after South Korea last week announced a plan to settle the long-running dispute with Japan.The two groups are expected to contribute 100 million yen ($752,000) eac…READ FULL ARTICLE