The EAS Friday meeting was attended by US Secretary of State Antony Blinken and Chinese Foreign Minister Wang Yi.
"Minister Park Jin stated that [South Korea] supports the One-China policy, and that peace and stability in the Taiwan Strait is a necessary condition for security and prosperity in the region," the South Korean foreign ministry said on Friday.
According to the release, Park Jin expressed concerns that the worsening geopolitical conflict in the Taiwan strait could cause political and economic instability in the region, including disruptions in supply chains.
Earlier on Friday, Blinken and his counterparts from Japan and Australia issued a joint statement after a meeting on the margins of the 55th Association of Southeast Asian Nations (ASEAN) summit in Phnom Penh, calling on China to halt military drills.
China launched a large-scale military exercise in the eastern Taiwan Strait in response to US House Speaker Nancy Pelosi's visit to Taipei this week. Pelosi, who ignored Beijing's repeated warnings, is the highest-ranking US official to come to Taiwan in fourteen years.
The Chinese Foreign Ministry said on Friday that China will impose sanctions on Pelosi and her close relatives because of her provocative visit to Taiwan that dealt a serious blow to the One-China principle and jeopardized peace and stability in the Taiwan strait.