A Japanese daily reported that South Korea, China and Japan have begun finalizing the details of a trilateral foreign ministers' meeting in the South Korean port city of Busan on November 26.

The report from Japan's Yomiuri Shimbun on Wednesday cited diplomatic sources, following up on a related story by Kyodo News of Japan last month that said Seoul had proposed the ministerial dialogue to be held around the last weekend in November.

Should the meeting be held for the first time in over four years, foreign minister Park Jin and his Chinese and Japanese counterparts, Wang Yi and Yoko Kamikawa, are set to discuss regional security issues and exchanges among the neighboring countries.

The ministers are also expected to exchange views on the resumption of a trilateral summit after a four-year hiatus.

On Monday, Seoul’s ambassador to China, Chung Jae-ho, told South Korean correspondents in Beijing that the three countries were fine-tuning the particulars of the ministerial meeting for late November and that it is expected to be finalized in the near future.

With the ministers' meeting customarily followed by a leaders' summit, there is speculation that President Yoon Suk Yeol, Japanese Prime Minister Fumio Kishida and Chinese President Xi Jinping could meet within the year for the first time since gathering in China’s Chengdu in December 2019.