“Koan-ak-san and three other places in the vicinity of Seoul. Total area 2,060 cho. Outlay, about 152,000 yen, distributed over five years, commencing 1907.
“Tai-syong-san and two other places in the vicinity of Pyeng-yang. Total area 610 cho. Outlay, about 63,000 yen, distributed over five years, commencing 1908. [Nursery beds expected to be opened in 1907.]
“Oa-yong-san and one other place in the vicinity of Taiku. Total area 650 cho. Outlay, about 63,000 yen, distributed over six years, commencing 1908. [Nursery beds expected to be started in 1907.]”
The more important resources of this class are, however, the existing forests along the banks of the Yalu and Amur rivers. Indeed, the desire to gain control of this wealth of timber was one of the more immediate causes leading to the Russo-Japanese war; it is still one of the more difficult points for satisfactory adjustment on the part of the three nations chiefly concerned. For the development of these resources an agreement between Japan and Korea was signed on October 19, 1906, by the Marquis Ito and the Korean Prime Minister, the Minister of Finance, and the Minister of Agriculture, Commerce and Industry. The text of this agreement and a brief introduction, stating its importance, is given in Mr. Megata’s last report.[63] “The banks along the Yalu and Amur,” says this report, “are rich in forests which have never been cut. Proper management of those forests would yield a considerable revenue to the treasury; but at the same time it would require not a little expense. In the present condition of the Korean finances it would not be wise to undertake this on the account of Korea alone, although the opening up of such a source of wealth is highly necessary.” An agreement was concluded between the governments of Japan and Korea in October last to carry on the forestry along those banks on their joint account, each government investing 600,000 yen. The agreement newly concluded reads as follows:
The Governments of Japan and Korea, regarding the forests in the districts along the Yalu and Amur rivers to be the richest source of wealth on the Korean frontier, hereby agree on the terms mentioned below as to the management of those forests:
Art. 1. The forests in the districts along the Yalu and Amur rivers shall be subject to the joint management of the Governments of Japan and Korea.
Art. 2. The fund for the management shall be 1,200,000 yen, a half of which shall be invested by each Government.
Art. 3. As to the management of the forests and its income and expenditure, a special account shall be created in order to make them clear.
The details of the account shall be notified to each Government once a year.