South Korea's Yoon says cooperation with Japan will contribute to global peace, prosperity

South Korean President Yoon Suk Yeol said on Tuesday South Korea's cooperation with Japan will contribute to protecting global peace and prosperity.

He added that Seoul's proposal on Monday to compensate people forced to work under Japan's colonial occupation was a result of meeting both countries' common interest.

South Korea said on Monday its companies would compensate people forced to work under Japan's 1910-1945 rule, seeking to end a dispute that has undercut U.S.-led efforts to present a unified front against China and North Korea.