South Korea And China Will Start A Free-Trading Agreement

South Korea and China will start a free-trading agreement, as the South Korean President Lee Myung Bak and Chinese President Hu Jintao will consider a free-trade agreement at a next-week summit, which will also include discussions about North Korea’s leadership succession.

The free trade between the two sides is needed,as the two sides basically share the same view of a free trade agreement between the two nations.

Where, South Korean President Lee Myung Bak will start a three-day trip that will begins on January the ninth, and according to the south-Korean president office, he and the Chinese President Hu Jintao will discuss how they will work together for the sake of peace and stability on the Korean peninsula.

The summit which starts after three weeks of the North-Korean dictator Kim Jong Il death and the ascension of his son Kim Jong Un as a leader, the regime that is completely relies on China to support and sustains its economy, yet the relation with South Korea won’t improve as long as Lee is president and threatened a “sea of fire” for his administration.

Moreover, China aims to convince North Korea to abandon its nuclear weapons program, yet it failed to persuade North Korea to return to negotiations with six nations, where the United States and South Korea along with Japan have insisted on China to put more pressure on the government in Pyongyang, which said in November it was making progress in building a light-water atomic reactor and in producing low-enriched uranium.

In conclusion, both of China and South Korea have a mutual interest in peace and stability on the Korean peninsula, yet they may disagree on how North Korea reforms, as the North Korean is expected to be isolated from the FTA discussion, because China and South Korea’s economic relations are too important to be jeopardize.