China and the Republic of Korea (ROK) have been good neighbors ever since they established diplomatic relations on August 24, 1992. Their relationship is as close as some media outlets have reported: the two countries have already become highly interdependent. Beijing Review special correspondent He Jing interviewed Lee Kyu Hyung, ROK Ambassador to China, and discussed the Sino-ROK cooperation during the past 20 years and the way to build a closer and more powerful bilateral relationship.

Beijing Review: What milestones have China and the ROK experienced in their past journey?

Lee Kyu Hyung: I believe there have been several milestones of the Sino-ROK relationship over the past 20 years.

Leaders of the two countries reached a consensus in May 2008 to promote their bilateral relationship into a strategic cooperative partnership. I personally believe this can succinctly describe the progress China and the ROK have jointly made in political, economic and cultural cooperation during the past two decades. But I don't take for granted the accomplishments of our overarching strategic cooperative partnership. The two sides should continue to make efforts to deepen the partnership, which is what we're looking forward to in the future.

The two countries began negotiations for a free trade agreement in May, which marks the development of bilateral economic cooperation. We don't know when such an agreement will be signed, but it shows that both sides are determined to achieve a reciprocal and win-win bilateral relationship. The negotiations also raise their relationship to a new level, and fully express China and the ROK's sincerity in developing a closer relationship.

TO FRIENDSHIP: Chinese and ROK officials extend a toast at the opening ceremony of the Year of China-ROK Friendly Exchanges in Seoul on April 3 (YAO QILIN)

People in the two countries have been in support of building a strong neighborly relationship during the past two decades. Conventional wisdom points out the direction we need to go.

ROK President Lee Myung Bak said during his visit to China earlier this year that the ROK looked forward to building a closer and more powerful strategic partnership. In what ways can China and the ROK conduct better cooperation?

Our bilateral relationship has developed in many facets during the past 20 years. These relations will continue to grow in more fields, so as to further enrich the Sino-ROK strategic cooperative partnership. Leaders and government officials of the two countries should continue to make more efforts to enhance dialogue and expand mutually beneficial cooperation.

The two sides jointly decided to raise bilateral trade volume to $300 billion by 2015. Once the free trade agreement is signed, their economic ties may allow for opportunities in other fields as well.

There is ample space on the world stage to expand our cooperation. For example, we shared common ground in dealing with the global financial crisis in the Group of 20. Moreover, we strengthened cooperation in coping with the financial crisis. Our bilateral cooperation will span the country-to-country scope and help further the goal of improving living standards across the world.

What are the characteristics of trade and investment between China and the ROK? How will the two develop under the framework of the China-Japan-ROK investment agreement and future free trade area?

We predict that the China-Japan-ROK free trade area negotiations will formally begin by the end of 2012. Previously, the three countries signed an investment agreement, which will create a better investment environment for enterprises in these countries, and enlarge their investment volume to each other. We expect to make contributions to the economic integration of Northeast Asia and to the peaceful development and prosperity in the region.