Pres. Lee agrees with China to start bilateral free trade talks

President Lee Myung-bak and Chinese President Hu Jintao agreed to start talks on concluding a bilateral free trade agreement in Beijing on Monday.

The move is expected to play a critical role in strengthening Korea`s economic partnership with its largest trade partner after ties had been called into question following the death of North Korean leader Kim Jong Il.

Presidents Lee and Hu agreed to take domestic steps needed in each other`s country to initiate the talks. When President Lee returns home, the government will first put on public notice an announcement for hearings on a free trade agreement and hold them after public notification. Related ministers will make a final decision on that after a working-level review of related issues.

The free trade talks are expected to start either next month or in March after the completion of working-level negotiations, including a decision on items to be excluded and reflecting public opinion. A South Korean government official said, “China requested the initiation of negotiations stronger than we did. The official talks will take place only after consideration of various factors and conditions.”

Seoul is known to have expressed hope that Beijing delivers future-oriented messages to Pyongyang, which is undergoing a leadership transition. A diplomatic source said, “Both China and Japan strongly requested the launch of free trade talks with us. We decided to go with China first,” adding, “Korea will leverage the free trade agreement to strengthen strategic communication with China.”

Presidents Lee and Hu also agreed to develop strategic collaborative ties with each other to achieve the common goal of peace and security on the Korean Peninsula and Northeast Asia after the demise of Kim Jong Il.

The two men will also make joint efforts to prevent incidents related to Chinese fishermen illegally working in waters near the maritime border. Last month, a South Korea Coast Guard commando was stabbed to death by a Chinese fisherman while searching the latter`s fishing boat in the Yellow Sea.

srkim@donga.com