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China, Japan, and South Korea are actively moving towards strengthening their collaboration in cutting-edge technology sectors such as big data, blockchain, and artificial intelligence (AI). This initiative was emphasized during the 10th China-Japan-ROK Foreign Ministers’ Meeting in Busan, South Korea, where the countries reiterated their dedication to regional advancement and collaborative multilateral efforts.

Chinese Foreign Minister Wang Yi highlighted the urgency of reinvigorating discussions for the China-Japan-South Korea Free Trade Agreement. He underscored its significance in accelerating economic recovery both regionally and globally. Yi also emphasized the aim of achieving regional economic integration and the formation of the Asia-Pacific Free Trade Area, fostering mutual benefits and win-win scenarios among the nations.

Yi encouraged the countries to maintain their initial goals while adapting to emerging challenges, focusing on respect for each nation’s developmental paths and sensitively addressing issues to establish a stable, long-term cooperative foundation among the three countries.

South Korean Foreign Minister Park Jin and Japanese Foreign Minister Yoko Kamikawa also underscored the critical need for enhanced cooperation. They recognized the vast potential of collaboration across diverse sectors, acknowledging its capacity to contribute to regional and global peace and prosperity.

All parties agreed on the need to facilitate the upcoming China-Japan-South Korea leaders’ meeting to deliberate on crucial regional and international matters. This reaffirms their commitment to deepening regional cooperation through peaceful discussions and maintaining peace in the Asia-Pacific.

This endeavor to advance in technology sectors like big data, blockchain, and AI marks a significant step towards regional innovation and economic growth. By combining their expertise and resources, these East Asian countries aspire to become leading figures in these essential technological areas.

The rejuvenation of the China-Japan-South Korea Free Trade Agreement talks is vital for fostering robust regional economic integration, demonstrating these nations’ resolve to boost economic growth and trade amid a slow global economic recovery.

This increasing collaboration comes at a time when South Korea’s crypto crime investigation unit is reportedly overwhelmed with cases, as the nation’s digital asset industry continues to expand. The team’s notable cases include the investigation into Terraform Labs, CEO Do Kwon, and other executives, as well as the LUNC cryptoasset.

As the industry grows, South Korea has seen a surge in crypto-related crimes. In May, South Korean police shut down two alleged crypto scams with a combined worth of $350 million, affecting hundreds of victims.