China, Japan and South Korea Start First Summit Talks Since 2019

Leaders from China, Japan and South Korea started their first formal three-way summit since 2019 as part of efforts to improve their relations amid growing friction over trade and security issues.

Bloomberg
First Published27 May 2024
China, Japan and South Korea Start First Summit Talks Since 2019
China, Japan and South Korea Start First Summit Talks Since 2019

Leaders from China, Japan and South Korea started their first formal three-way summit since 2019 as part of efforts to improve their relations amid growing friction over trade and security issues.

Chinese Premier Li Qiang, Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol began their three-way talks Monday in Seoul. They are expected to deliver statements after the meeting and then have a session with business leaders. They met for bilateral discussions on Sunday.

Read more: China Urges South Korea to Maintain Stable Supply Chains 

While the three countries are geographically close, summits such as this are relatively rare. The leaders were supposed to convene annually but the meeting stalled for nearly five years because of the Covid-19 pandemic and geopolitical tensions. Since then, Tokyo and Seoul have improved bilateral ties and drawn closer to the US, worrying China.

The summit comes as Beijing has been pushing back against the tightening of US chip export rules, part of a broader effort to hobble China’s chipmaking industry over national security concerns. Japan and South Korea are central to US efforts to deny Beijing access to high-end chipmaking tools and technology.

Li told Yoon at their meeting Sunday that both sides should avoid turning economic issues into political issues, and Beijing welcomes South Korean firms including Samsung Electronics Co. to expand investment in China, the official Xinhua News Agency said. Yoon said he hopes both countries strengthen exchanges, according to a pool report.

Kishida’s talks with Li were a bit more pointed as he called on China to free detained Japanese nationals, and raised concern over China’s actions in the East China Sea, where ships from the two sail near disputed isles on an almost daily basis. 

Tokyo and Seoul have also expressed concern about security in the Taiwan Strait, and Kishida said he brought up the subject in his talks with Li. Tensions in the region have risen as China held its most expansive military drills in a year around Taiwan last week, ramping up pressure on the island’s new president, Lai Ching-te, just days after he was sworn in.

Read more: China Holds Biggest Military Drills in a Year Around Taiwan 

Kishida and Yoon have stepped up security cooperation with Washington and last year met with President Joe Biden for an unprecedented summit. The Asian leaders may be heading to the US again in the next few months, possibly to hold a summit with Biden that will build on their meeting last year, according to reports from Kyodo News and other media.

Beijing, Tokyo and Seoul will seek to cooperate in six main areas when they meet on Monday, including sustainable development, people-to-people exchanges as well as economy and trade. Japan and South Korea have also sought China’s help to rein in North Korea’s atomic ambitions.

Read more: North Korea Gives Notice of Satellite Launch by June 4

Just before the formal summit, Japan said North Korean has given notice that it plans to launch a rocket to deploy a satellite. Japan, South Korea and the US have said North Korea’s space program helps it develop ballistic missiles and the notice of a launch is set to focus attention on Pyongyang’s weapons program at the trilateral meeting.

With assistance from Sam Kim.

This article was generated from an automated news agency feed without modifications to text.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess
HomeNewsworldChina, Japan and South Korea Start First Summit Talks Since 2019

Most Active Stocks

Bandhan Bank

205.45
05:52 AM | 20 JUN 2024
6.6 (3.32%)

Bharat Electronics

313.10
05:52 AM | 20 JUN 2024
3.8 (1.23%)

Tata Steel

182.15
05:52 AM | 20 JUN 2024
2.1 (1.17%)

Indian Oil Corporation

169.00
05:52 AM | 20 JUN 2024
2.2 (1.32%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Gujarat State Fertilizers & Chemicals

257.80
05:44 AM | 20 JUN 2024
18 (7.51%)

Gujarat Fluorochemicals

3,469.40
05:44 AM | 20 JUN 2024
216.95 (6.67%)

City Union Bank

166.50
05:44 AM | 20 JUN 2024
9.5 (6.05%)

Hindustan Zinc

669.15
05:44 AM | 20 JUN 2024
36 (5.69%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    72,995.00-286.00
    Chennai
    73,353.00642.00
    Delhi
    73,210.00-285.00
    Kolkata
    72,995.00-571.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.75/L0.00
    Kolkata
    103.94/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanGet App