South Korea and China signed seven key memoranda of understanding (MoUs) on Saturday aimed at enhancing economic and security cooperation, as leaders from both nations met on the sidelines of the APEC summit in Gyeongju. The agreements were finalized during a bilateral summit between South Korean President Lee Jae Myung and Chinese President Xi Jinping.
The MoUs span multiple strategic areas, including a renewed Korean won–Chinese yuan currency swap arrangement to support financial stability and cross-border transaction flexibility. Both nations also agreed to collaborate on tackling cyber-related crimes, including online scams and voice-phishing operations, which have seen a sharp rise across Asia in recent years.
In a move to boost agricultural trade, China approved new export protocols for Korean persimmons, opening up fresh opportunities for South Korean farmers. Additional agreements covered a trade-in-services cooperation framework, a startup partnership program, and a joint economic cooperation roadmap through 2030, outlining long-term goals in technology, supply chains, and green-energy initiatives.
The deals mark a significant diplomatic push as both countries look to stabilize ties amid shifting geopolitical dynamics and global supply-chain uncertainty. Officials from both sides noted that the agreements reflect a shared commitment to deepening regional cooperation and fostering a more secure and interconnected economic future.
