South Korea to start tokenizing ‘all types’ of securities in three stages from 2027

China and South Korea have issued formal protests over the Taiwan and Korean unity issues. South Korea's national security adviser Wi Sung-lac expressed serious objections after an official Chinese statement endorsed moves towards "the peaceful coexistence of the two states of South and North Korea". In response, Beijing lodged serious representations with Seoul regarding an art event featuring a "Taiwan pavilion".

This prompted mainland China's artists to withdraw from the event in protest. According to Wi, China's post-meeting statement included the "two states" phrase, which differs from what South Korea believes. South Korea does not recognize North Korea as a separate sovereign state and views the peninsula as a single territory awaiting reunification.

China, however, has not accepted the inter-Korean relationship as one between states and instead supports reunification. The "two states" formulation from China has raised doubts about whether Beijing has fully embraced North Korea's perspective. Additionally, China protested the use of the "Taiwan Pavilion" at the Gwangju Biennale, one of Asia's most prestigious contemporary art exhibitions.

This led to China's withdrawal from the event. China's foreign ministry spokesman accused the biennale organizers of clinging to an "incorrect practice" and demanded an immediate correction. The Chinese embassy in South Korea urged the biennale organizers and Gwangju municipal government to address the issue promptly and uphold the one-China principle.

South Korean foreign ministry spokesman Park Doo-soon stated that the decision about the pavilion was unrelated to the government and hoped it would not negatively impact the Korea-China relations.