Agreement includes apology by Japanese PM and a 1 billion yen fund for victims

A South Korean woman whose family members were killed by Japanese forces during World War II attends a rally in Seoul on Monday demanding full compensation and an apology from the Japanese government. AHN YOUNG-JOON/THE ASSOCIATED PRESS

Japan and South Korea reached a deal on Monday to solve the thorny issue of Korean women forced into sexual slavery by Japanese troops in World War II.

The agreement includes an apology by Japanese Prime Minister Shinzo Abe and a decision to set up a 1 billion yen ($8 million) fund for the victims.

The results were announced after the South Korean and Japanese foreign ministers held talks on the issue in Seoul.

Japanese Foreign Minister Fumio Kishida said in a media release that the South Korean government will "establish a foundation for the purpose of providing support for the former comfort women".

Funding will be "contributed by the government of Japan as a one-time contribution through its budget".

When meeting the media with his South Korean counterpart, Kishida said Japan will contribute about 1 billion yen, Reuters reported.

South Korean Foreign Minister Yun Byung-se said Seoul considers the deal "final and irreversible" as long as Japan faithfully follows through with its promises.

A statement by both foreign ministers said Japanese Prime Minister Shinzo Abe "expresses anew his most sincere apologies and remorse to all the women who underwent immeasurable and painful experiences and suffered incurable physical and psychological wounds as comfort women".