South Korea’s state-run pension fund is reviewing more than $1bn of investments in Japanese companies that operated during Japan’s colonial rule.
The National Pension Service of Korea has started the examination as the economic fallout from a dispute between Tokyo and Seoul over wartime reparation worsens.
The fund is assessing whether investments in as many as 75 companies — which totalled Won1.23tn ($1.1bn) at the end of 2018, and include Mitsubishi Heavy Industries, Panasonic, Toshiba and Toyota Motor— should be dropped if it can be proved they were linked to Japan’s war efforts.
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