Eisaku Satō
An existing treaty between South Korea and Japan, the Treaty on Basic Relations between Japan and the Republic of Korea, was signed on June 22, 1965 and provided basic diplomatic relations for the two states. In this treaty, signed by Japanese PM Eisaku Satō and the South Korean dictator Park Chung-hee, Japan and South Korea agreed upon settling problems with property during war-time, individual claims for compensation, and economic cooperation. Japan provided South Korea with $800 million, which would settle any issues about Imperial-era property and compensation for individuals.