China, South Korea expand cooperation
26 August 2008
Chinese President Hu Jintao and Korean President Lee Myung-bak agreed to expand efforts to cooperate on political, economic and other issues at a summit in Seoul on Monday, AP reported. Hu also called for "full implementation" of the second phase of the denuclearization process on the Korean peninsula, and agreed to high-level strategic talks with South Korea before the end of the year. Hu and Lee also signed memoranda of understanding on high-tech, energy saving efforts and trade between the two countries, which reached a combined US$145 billion last year. China is South Korea's largest trading partner, and the two leaders said they wished to boost bi-lateral trade to US$200 billion by 2010.