Talks have officially begun over South Korea joining the Digital Economy Partnership Agreement(DEPA).

The Ministry of Trade, Industry and Energy said Thursday that the government held virtual talks with member nations of the digital pact, in their first round of negotiations for South Korea's entry.

The DEPA is a multilateral agreement signed by Singapore, New Zealand and Chile in 2020 aiming to establish key digital norms and boost digital cooperation among members. 

The DEPA joint committee declared the launch of negotiations for South Korea's membership in France last year. Membership will be granted following an official acceptance from the joint committee which is expected to come after several rounds of negotiations.

The talks will focus on cooperation in the digital economy, which includes electronic transactions, Fintech and public domain, as well as other digital projects to be carried out by South Korea and DEPA member nations.