[] [BTBBT Daily - 1/10]China, SK united over Korean Peninsula peace

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THE presidents of China and South Korea yesterday agreed to work together to achieve peace and stability on the Korean Peninsula in their first summit since Kim Jong Il's death opened the chance for major changes in North Korea.

Chinese President Hu Jintao and South Korean President Lee Myung-bak exchanged "candid views on the situation on the Korean Peninsula which has recently faced a crucial moment" and agreed to work together to achieve peace and stability there, South Korea's presidential Blue House said in a statement.

Hu told Lee that China was willing to make "unremitting efforts" to safeguard peace and stability between the Koreas.

The two leaders also agreed to begin domestic procedures needed to start negotiations on a free trade agreement, the Blue House said.

They also agreed to learn from a recent "unfortunate" fishing incident to prevent any repeat in the future, the statement said, an apparent reference to a Chinese boat captain who allegedly fatally stabbed a South Korean coast guard officer last month.

Hu said China would continue to support the improvement of relations through dialogue between North Korea and South Korea.

It was in the interest of all parties concerned to safeguard the peace and stability of the Korean Peninsula, Hu told Lee, adding that China was willing to enhance communication and coordination with all relevant parties and make unremitting efforts in this respect.

China hoped the parties concerned would initiate more moves that help to promote peace and stability on the peninsula, he said.

Lee said it was the common goal of South Korea and China to realize the denuclearization of the Korean Peninsula and safeguard its peace and stability.

South Korea appreciated China's efforts in achieving this goal and hoped China would continue to play a positive role in this respect, Lee said.

The presidents also discussed the development of bilateral ties, which began 20 years ago.

Hu called on both countries to expand cooperation in trade, energy conservation and environmental protection, technology, finance, logistics and electronic business, and to make joint efforts for the realization of bilateral trade of US$300 billion in 2015.

He welcomed South Korean companies increasing investment in China and called on Seoul to make it easier for Chinese companies to invest there.

Lee arrived in Beijing yesterday to begin a three-day state visit.