South Korea and China have agreed to strengthen cooperation on economics, culture and crime prevention, signing multiple memorandums of understanding during a summit in Gyeongju.

According to the presidential office, the two nations signed seven memorandums on Saturday at a signing ceremony on the sidelines of the summit between President Lee Jae Myung and Chinese President Xi Jinping at the Gyeongju National Museum.

One of the pacts was to renew a currency swap deal worth 70 trillion won, or about 49 billion U.S. dollars, for another five years.

The previous agreement between the two nations expired last month.

The two sides also signed deals on exchanges and cooperation in trade and services, a joint economic cooperation plan for the years 2026 to 2030, and the joint promotion of a startup partnership program.

They also agreed to pursue bilateral cooperation to combat voice phishing and online scams, and bilateral cooperation on phytosanitary requirements for the export of South Korean agricultural products to China.