The two-day South Korea-China-Japan summit opened on Jeju Island on Saturday afternoon.

President Lee Myung-bak, Chinese premier Wen Jiabao, and Japanese Prime Minister Yukio Hatoyama held the first session at the Jeju Convention Center on Saturday afternoon and focused on discussions of cooperation in economic, social, and cultural sectors.

Just before the session began, the three leaders had a ten-second period of silence to remember those sacrificed in the sinking of the Cheonan naval vessel, upon Hatoyama’s proposal.

In the first session, the three leaders adopted the "Vision 2020" that contains a blueprint of trilateral cooperation over the following decade.

In addition, the leaders agreed to set up a standing secretariat in South Korea in 2011 to strengthen, institutionalize and facilitate future cooperation among the three nations.

The three nations also adopted joint statements that involve cooperation on technological standards and strengthening science and innovation.

Northeast Asian issues including the sinking of the Cheonan and the North Korean nuclear issue, as well as other international matters including the G20 summit will be addressed in the second session scheduled for Sunday morning.