S Korea seeks trade zone with Japan, China

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TOKYO, Mar 24 (AFP): South Korea's new president, Lee Myung-Bak, has said he backs a vast free-trade zone with Japan and China to boost the competitiveness of the three economic powers.
"A free trade zone may be possible if each of the countries within the region works together," Lee said in an interview with foreign newspapers in Seoul, as quoted today by Japan's Nikkei business daily.
"By coordinating efforts, South Korea, China and Japan can maintain competitiveness in the global market. Japan should play a major role," Lee said.
South Korea has long been concerned that it is sandwiched between Japan, Asia's largest economy and a technological leader, and China, which is growing rapidly on its giant labour pool and manufacturing industry.