Chinese foreign minister calls for cooperation among Japan, China, and South Korea in the areas of blockchain and AI (artificial intelligence)

Japan, China and South Korea also discuss cooperation in science and technology

On November 26, Chinese Foreign Minister Wang Yi stated at the trilateral foreign ministers’ meeting of Japan, China, and South Korea that cooperation should be strengthened in big data, blockchain, artificial intelligence (AI), and other cutting-edge technology fields. did.

This is the first time in four years that the Foreign Ministers’ Meeting has been held face-to-face. It was held in Busan, South Korea. Foreign Minister Kamikawa from Japan, South Korean Foreign Minister Park Jin from South Korea, and Foreign Minister Wang Yi from China are attending.

The foreign ministers of the three countries will now focus on (1) people-to-people exchanges, (2) science and technology, (3) sustainable development, (4) public health, (5) economic cooperation and trade, and (6) peace and security. They agreed to proceed with discussions through cooperation in other areas.

Among these, Foreign Minister Wang Yi’s remarks referred to cooperation in the field of science and technology.

Foreign Minister Wang Yi also said that the three countries should maintain the mutually beneficial relationship, resume negotiations on the Japan-China-Korea FTA as soon as possible, and move towards the common goal of a multi-channel, multi-level Asia-Pacific FTA. talked.

At this meeting, the three foreign ministers also agreed to accelerate work toward holding a trilateral summit meeting as soon as possible.

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Past movements between Japan, China and South Korea

Regarding cutting-edge technologies such as big data, blockchain, and artificial intelligence (AI), various moves are being made in Japan, China, and South Korea. Although no major projects involving the three countries have been announced so far, future cooperation is drawing attention.

In Japan, the Liberal Democratic Party’s Digital Society Promotion Headquarters established the “web3 Project Team (web3PT)” in January 2022. It positions Web3 as a “new frontier of the digital economic zone,” and proposed the development of an economic zone that includes NFTs (non-fungible tokens) as a national strategy.

In response to this, in June 2022, the Japanese government made a cabinet decision to include Web3 environment development in its growth strategy. Prime Minister Kishida also talked about creating an environment to promote “blockchain, NFT, metaverse, etc.” in a speech in May 2022.

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In China, central bank digital currency (CBDC) is gaining momentum.

The People’s Bank of China has been developing the digital renminbi since 2014, and has been conducting large-scale demonstration experiments with consumer participation in various parts of China since the latter half of 2020. So far, tests have been conducted in more than 26 provinces and cities across China. A shopping festival was also held in Hong Kong in July.

Additionally, in February, the Chinese government approved the establishment of the National Blockchain Technology Innovation Center in the capital Beijing, a research institute specializing in blockchain technology. The company aims to train 500,000 blockchain experts and is also considering building a blockchain network that connects all of China.

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In South Korea, while the government is moving forward with the development of virtual currency regulations, local governments are starting projects such as Web3.

For example, Busan City announced in September that it would aim to open a digital asset exchange and grow a “blockchain city” around it. It also plans to develop its own mainnet that is compatible with private blockchains such as Ethereum (ETH).

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Additionally, in January, the city of Seoul launched the “Metaverse Seoul” project, which provides administrative services and other services in a virtual space.

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