Anchor: South Korea, China and Japan agreed to launch discussions for a three-way free trade agreement this year. The three nations will immediately begin domestic procedures for working-level discussions. Our Kim In-kyung has more on a joint declaration signed by the three heads of state at a trilateral summit meeting in Beijing on Sunday.

Report: President Lee Myung-bak, Chinese Prime Minister Wen Jiabao and Japanese Prime Minister Yoshihiko Noda signed a joint declaration that calls for an enhancement in mutual trust, stronger economic cooperation, the promotion of sustainable development, an expansion in social, human and cultural exchange and more cooperation and communication regarding regional and international issues.

They welcomed the trilateral investment guarantee accord and agreed to complete domestic procedures as soon as possible so that the agreement goes into effect in the near future. The investment guarantee agreement is the first of its kind between South Korea, China and Japan and insures the safety of investments made by the three parties.

The three leaders also agreed to maintain financial cooperation in the region and positively assessed the expansion of the Chiang Mai initiative, a multilateral currency swap aimed at preventing a financial crisis in East Asia.

In addition, the three nations agreed to cooperate in the areas of disaster relief, nuclear safety and earthquake research. They encouraged cooperation in nontraditional security issues such as piracy, energy and cyber security, epidemics and the spread of weapons of mass destruction. They also endorsed the activities of the Seoul-based Global Green Growth Institute to support green growth in developing countries.

The three nations are known to have excluded from the joint declaration a condemnation of North Korea's missile launch and calls against possible additional nuclear tests following a lengthy discussion. Kim Tae-hyo, senior secretary to President Lee for national security strategy said the three nations are in agreement over the necessity to warn against provocations by the North, but didn't announce the matter jointly due to the diplomatic sensitivity of the issue.

Kim In-kyung, KBS World Radio News.