China, Japan and South Korea have agreed to discuss speeding up talks for a trilateral free trade agreement, according to a joint statement released on Monday following their three-way summit.

The three countries also reaffirmed their goal of a denuclearised Korean Peninsula at the ninth Trilateral Summit Meeting in Seoul.

The summit brought together Premier Li Qiang, Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol for the countries' first trilateral talks in nearly five years.

The three countries announced they would keep discussions for speeding up negotiations for a trilateral free trade deal.

Li said they had agreed not to turn "economic and trade issues into political games or security matters, and rejecting protectionism as well as decoupling or the severing of supply chains".

Yoon said the leaders had "decided to create a transparent and predictable environment for trade and investment, and to establish a safe supply chain".

After their talks, Li, Kishida and Yoon joined a business summit aimed at boosting trade among the countries, which was also attended by top industry leaders.

On the situation on the Korean Peninsula, Premier Li called on relevant parties to exercise restraint.

He said China has always been committed to maintaining peace and stability on the peninsula.

While North Korea was not officially on the agenda, hours before the leaders met Pyongyang announced that it would soon put another spy satellite into orbit, a move that violates United Nations sanctions barring it from tests using ballistic technology.

At a joint press conference, Yoon and Kishida urged Pyongyang to call off the launch, with the South Korean leader saying it would undermine regional and global peace and stability.

Li also said China, Japan and South Korea should properly handle sensitive issues and differences, and take care of each other's core interests and major concerns.

Yoon said the three leaders agreed to promote people-to-people and cultural exchanges, and work together to tackle shared environmental, health and other issues.

"The trilateral cooperation system should be strengthened. We have decided to hold trilateral summits on a regular basis," Yoon said.

Kishida said the three countries share a big responsibility for regional peace, and that Japan will chair the next round of the trilateral meeting. (Xinhua & Agencies)