The Japanese decree announcing the annexation of the country was in itself an acknowledgment that the Japanese administration so far had been a failure. Here is the opening paragraph:—
"Notwithstanding the earnest and laborious work of reforms in the administration of Korea in which the Governments of Japan and Korea have been engaged for more than four years since the conclusion of the Agreement of 1905, the existing system of government of that country has not proved entirely equal to the work of preserving public order and tranquillity, and in addition a spirit of suspicion and misgiving pervades the whole peninsula.
"In order to maintain peace and prosperity and the welfare of the Koreans and at the same time to ensure the safety and repose of foreign residents, it has been made abundantly clear that fundamental changes in the actual regime of government are actually essential."
The declaration announced various changes. It abrogated all Korean foreign treaties, and brought the subjects of foreign nations living in Korea under Japanese law. In other words, extra-territoriality was abolished. The Government agreed to maintain the old Korean tariff for ten years both for goods coming in from Japan and abroad. This was a concession to foreign importers whose trade otherwise would have been swamped. It also allowed ships under foreign registers to engage in the Korean coasting trade for ten years more.
The annexation was put in the form of a treaty between the Emperors of Japan and Korea, as though the surrender of their land had been the act of the Koreans themselves, or their ruler.
His Majesty the Emperor of Japan and His Majesty the Emperor of
Korea having in view the special and close relations between
their respective countries and to ensure peace in the Extreme
East, and being convinced that these objects can best be attained
by the annexation of Korea to the Empire of Japan have resolved
to conclude a Treaty of such annexation and have for that purpose
appointed as their Plenipotentiaries, that is to say,
His Majesty the Emperor of Japan, Viscount Maskata Terauchi,
His Resident General.
And His Majesty the Emperor of Korea, Ye Wan Yong, His
Minister President of State,
Who, upon mutual conference and deliberation, have agreed to the
following articles.
Article 1. His Majesty the Emperor of Korea makes complete and
permanent cession to His Majesty the Emperor of Japan of all
rights of sovereignty over the whole of Korea.
Article 2. His Majesty the Emperor of Japan accepts the cession mentioned in the preceding Article, and consents to the complete annexation of Korea to the Empire of Japan.
Article 3. His Majesty the Emperor of Japan will accord to their Majesties the Emperor and Empress of Korea and His Imperial Highness the Crown Prince of Korea, and Their Consorts and Heirs such titles, dignity and honour as are appropriate to their respective rank and sufficient annual grants will be made for the maintenance of such titles, dignity and honour.
Article 4. His Majesty the Emperor of Japan will also accord appropriate honour and treatment to the members of the Imperial House of Korea and their heirs, other than those mentioned in the preceding Article and the funds necessary for the maintenance of such honour and treatment will be granted.