The agreement was reached during a meeting between US President Joe Burden, Japanese Prime Minister Shigeru Ishiba, and South Korean President Yoon Suk Yeol on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Peru's capital Lima, Seoul-based Yonhap News reported on Saturday.
The new forum will aim to align their goals and actions further to make the Indo-Pacific "a thriving, connected, resilient, stable, and secure region."
After the meeting, the three leaders issued a joint statement reaffirming their commitment to the trilateral partnership, which they believe is still "critical to countering regional security threats and fostering Indo-Pacific stability."
"We are proud of the partnership we have built," with the belief that the three-way relationship will be "a ballast of peace and stability in the Indo-Pacific for years to come," the statement added.
"We've now reached a moment of significant political change," Biden is quoted as saying in the statement.
He added that he hopes the partnership is "built to last," as it remains to be seen if President-elect Donald Trump will support the format when he takes office in January of next year.
MNA/PR