South Korea, China Sign 7 MOUs on Voice Phishing Crackdown, Service Trade

On November 1, 2025, South Korea and China signed a total of seven Memorandums of Understanding (MOUs) during a summit in Gyeongju, agreeing to strengthen cooperation on issues including combating voice phishing and expanding service trade. The agreements were signed at the 'South Korea-China MOU and Contract Exchange Ceremony' held at the Gyeongju National Museum. South Korean President Lee Jae-myung and Chinese officials attended, laying the groundwork for economic and crime prevention cooperation between the two countries.

• The two countries plan to expand exchanges in various fields, including the silver economy, innovative startups, and economic cooperation, through the 'MOU on Strengthening Service Trade Exchange Cooperation'.
• The 'MOU on Phytosanitary Requirements for the Export of Fresh Korean Persimmons to China' is expected to expand exports of Korean agricultural products to China.
• Through the 'MOU on Cooperation in Responding to Voice Phishing and Online Fraud Crimes,' the two countries will establish a joint response system to address increasing cybercrime.
• The won/yuan currency swap agreement is expected to strengthen financial cooperation between the two countries and contribute to economic stability.

Joint Response to Voice Phishing and Cybercrime

To jointly respond to the recent surge in voice phishing and online fraud crimes, the two countries signed the 'MOU on Cooperation in Responding to Voice Phishing and Online Fraud Crimes.' Through this agreement, the two countries plan to focus on minimizing crime damage by strengthening related information sharing and investigative cooperation.

Strengthening Economic Cooperation

The two countries will diversify cooperation in the economic field by signing the 'MOU on Strengthening Service Trade Exchange Cooperation,' along with the 'MOU on Cooperation in the Silver Economy Sector,' the 'MOU on Joint Promotion of the Innovative Startup Partnership Program,' and the '2026-2030 Joint Plan for Economic Cooperation MOU.' In addition, they plan to promote financial cooperation and secure economic stability through the signing of the 'Won/Yuan Currency Swap Agreement.'

The 'MOU on Phytosanitary Requirements for the Export of Fresh Korean Persimmons to China' is expected to contribute to increasing income for Korean farmers. The foundation has been laid for increasing the competitiveness of Korean persimmons in the Chinese market and expanding exports.