South Korea, China and Japan have stepped up calls for further free-trade talks that could lead to the creation of a unified economic bloc as South Korean President Lee Myung-Bak hosted a three-way summit with Chinese Premier Wen Jiabao and Japanese Prime Minister Yukio Hatoyama.

The three Asian leaders were also scheduled to discuss regional security and economic concerns as South Korea continued pursuing its aim of establishing free-trade agreements with either or both of China and Japan.

During their bilateral summit, President Lee has informed Prime Minister Hatoyama that a free trade agreement between them would greatly contribute in developing their relations as Seoul pushed its proposal that preliminary talks between the two nations started in 2004 should be expedited prior to entering a negotiation on the proposed free trade deal.

Mr Hatoyama has pledged that Tokyo would actively work for such an agreement as he stressed that "a signed FTA is important for Japan and South Korea to cement their relationship in the next 100 years."

For his part, Premier Wen said that China is willing to talk with South Korea on a bilateral free-trade pact as he added that "the two countries should start official talks on their free-trade agreement in the future."

The two nations have agreed in principle to hold initial discussions on agricultural matters, which are touchy matters for both, between them before any full-blown talks on a free trade deal can get started.

Trade ministers from the three nations have issued confirmation last week that a feasibility study would be undertaken and completed within the next two years on the possibility of creating a unified free trade bloc that would group Japan, China and South Korea together.

South Korea has been actively campaigning for free-trade pacts worldwide to push its export-oriented economy and China so far has assumed the role as the nation's biggest trading partner with about 24 percent of its total exports in 2009 sent to Chinese mainland territories.

Seoul has already sealed agreements with Chile, Singapore, India, the European Free Trade Association and the Association of South East Asian Nations as free trade deals were also inked with the United States and European Union in 2007 and 2009 respectively, though they still wait ratification.