Trilateral Triumph: South Korea, Japan, and China to Boost Trade and Cultural Exchanges

South Korea has decided to deepen its economic, trade, and digital cooperation with Japan and China. This marks the first trilateral meeting in four years and five months.

On the 26th, President Yoon Suk Yeol agreed to strengthen cooperation with both China and Japan during separate bilateral meetings with Chinese Premier Li Qiang and Japanese Prime Minister Fumio Kishida.

During his meeting with Li, Yoon discussed economic and trade cooperation, including the Korea-China Free Trade Agreement (FTA), which will celebrate its 10th anniversary next year. They exchanged views on creating a favorable investment environment for Korean companies in China, supply chain cooperation, and promoting cultural exchanges.

President Yoon said, “Recently, ministerial-level dialogues in various fields have resumed between our two countries, and exchanges between local governments are also being revitalized. I hope both countries continue to strengthen exchanges and cooperation, respect each other, and pursue mutual benefits.”

Li, after conveying President Xi Jinping’s regards, responded, “China wants to be a good neighbor that can be trusted and a partner that supports each other’s success.”

Following the meeting with Li, Yoon met with Kishida to discuss the restoration of the Korea-Japan shuttle diplomacy, cooperation between Korea, the U.S., and Japan, global issues including the Indo-Pacific region, visa exemption talks, and responses to climate change.

Yoon stated, “Based on strong trust, exchanges at all levels have greatly increased over the past year. I hope we can work together to make next year, the 60th anniversary of the normalization of diplomatic relations between Korea and Japan, a historic turning point to further advance our relationship.”

Kishida also said, “Let’s continue shuttle diplomacy based on trust between the leaders. I hope we can prepare our respective governments to further leap forward in our bilateral relations.”

Yoon also hosted an official welcome dinner attended by delegations and businessmen from the three countries. On the 27th, the Korea-Japan-China business summit will be held in conjunction with the tripartite summit, where a joint declaration from the three countries will also be announced.