Committee to reclaim pro-Japanese assets to be revived after 16 years

South Korea is set to re-establish a committee to investigate and reclaim property acquired by individuals who collaborated with Japanese colonial rule. The committee, originally formed during the Roh Moo-hyun administration in 2006 and dissolved in 2010 under the Lee Myung-bak government, will be reconstituted by December and will have up to five years to pursue the recovery of these assets.

The special law, 'On the State Confiscation of Property of Pro-Japanese Collaborators,' will take effect on December 3. This legislation aims to address the current lack of a legal body to identify pro-Japanese assets. It explicitly includes proceeds from the sale of such properties, even if the heirs have already disposed of them, within the scope of recovery. Furthermore, a new provision will offer rewards to individuals who report and help identify pro-Japanese assets.

The preparatory committee for the investigation committee, led by Lee Young-chang, was launched on June 22 and includes 11 officials from various government ministries. The Ministry of Justice has been handling litigation related to pro-Japanese assets identified by the first committee. During its four-year operation, the first committee determined the state's claim to 2,359 plots of land belonging to 168 collaborators. It also ruled on the 'identification of pro-Japanese property' for 24 heirs who had already sold assets, leading to the recovery of assets estimated at 237.3 billion won at the time.

Justice Minister Han Dong-hoon stated on Facebook that the second committee is expected to recover at least 32.5 billion won in pro-Japanese assets. He added that these recovered funds will be used for the welfare of independence activists and their descendants. The first committee's efforts resulted in the recovery of approximately 237.3 billion won (at the time's market value).

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The 'second Pro-Japanese Property Investigation Committee,' following the Roh Moo-hyun government, is expected to recover at least 32.5 billion won in pro-Japanese assets. The recovered assets will be used for the welfare of independence activists and their descendants.