The Republic of Korea (ROK) is set to restart state-level recovery of assets accumulated by pro-Japanese and anti-national collaborators during the Japanese colonial period, with a special law taking effect in December, the country's Yonhap News Agency reported Sunday.
The move revives the attempt that has been dormant since 2010. Effective from December 3, the Special Act on Asset Confiscation for Pro-Japanese and Anti-National Collaborators to the State will allow authorities to investigate and recover wealth illicitly gained by collaborators under Japanese colonial rule. A special investigative committee was established in June and will formally begin confiscation work in December, according to the report.
The ROK first enacted similar legislation in 2005, allowing the country to confiscate assets acquired by pro-Japanese collaborators during Japan's colonial rule. A special investigative committee was established in 2006 but was dissolved in 2010 after its four-year mandate expired.
During that four-year period, the country's Ministry of Justice identified over 2,300 parcels of land for confiscation, owned by 168 collaborators.
According to Minister of Justice Jung Sung-ho, at least 32.5 billion won (nearly 23 million U.S. dollars) worth of pro-Japanese assets could be recovered under the second committee.
ROK to restart confiscation of assets acquired by pro-Japanese collaborators
