(MENAFN- IANS) Gyeongju, Nov 1 (IANS) South Korean President Lee Jae Myung held his first summit talks with Chinese President Xi Jinping on Saturday and expressed hope to strengthen strategic communication to work together for resumption of talks with North Korea.

Lee welcomed Xi's first visit to South Korea in 11 years to attend the Asia-Pacific Economic Cooperation summit held in the southeastern city of Gyeongju, expressing hope that their summit would lay a foundation for "tangible results" that the peoples of both countries can feel.

Lee noted that high-level exchanges between China and North Korea have recently become more active, calling it a positive development that creates conditions for renewed engagement with Pyongyang.

"I hope that the Republic of Korea and China will strengthen their strategic communication, make use of these conditions and work toward resuming dialogue with North Korea," he said in his opening remarks, referring to South Korea's official name.

"It can never be overstated how important regional security is."

On economic ties, Lee said bilateral economic cooperation has shifted from a "vertical structure" to a "horizontal one," emphasising the need to build a "mutually beneficial" relationship, Yonhap news agency reported.

Xi said China values its relations with South Korea and will maintain policy consistency and stability, expressing Beijing's willingness to deepen communication with Seoul.

"(China) is willing to deepen communication with South Korea and jointly address challenges, while promoting the stable and long-term development of the bilateral strategic relationship and contributing greater energy to peace and development in the region," Xi said through a translator.

Xi described South Korea and China as "close neighbours who cannot move apart and inseparable partners in cooperation," saying the two countries have achieved co-prosperity through sustained exchanges and collaboration.

"Promoting the healthy and stable development of China-South Korea relations has always been in the interests of both peoples and is a choice in line with the spirit of the times," he said.

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