A key issue during the visit is speeding up the establishment of the free trade area (FTA) between the two nations.

During a meeting with RoK President Lee Myung-bak, the Chinese premier said that the FTA negotiations between China and the RoK could be launched later this year or early next year upon the completion of a feasibility study.

After their talks, Wen and Lee also witnessed the signing of a series of cooperative documents, including a Memorandum of Understanding about the feasibility study of the China-RoK free trade agreement.

Earlier, Lee hosted a welcome ceremony for Wen's visit, and they held formal talks following small group discussions.

Wen highlighted the sound development of China-RoK trade ties, urging the two countries to make joint efforts to overcome difficulties caused by the global financial crisis and to promote bilateral cooperation to a new level.

China and the RoK should strive to create a bilateral trade volume meeting the target of US$200 billion by 2012 and US$300 billion by 2015, said Wen.

Wen also suggested that the two countries implement mid-and long-term trade cooperation guidelines and explore new fields for trade cooperation, deepen collaboration in areas like high technology and circular economy, combat protectionism, expand cultural and youth exchanges, step up coordination within the framework of the Group of 20 (G20) and promote the reform of the international economic governance system to make it fairer and more rational.

Wen and Lee agreed to further promote China-RoK relations of strategic cooperation and partnership, which were established in 2008.