Asia Bizz: South Korea President Lee Myung-bak has hopes that he could have formal talks with its opposing neighbour N.Korea. Lee stated that for the S.Koreans this seems to be a very tough task, since both nations need to enter into talks with the North; but he is ready to find out a formal to bring peace with Pyongyang.

According to the President, he feels that if there are talks between South Korea and North Korea, then there shall be no need for prior discussions with the United States before the Korea Summit. Lee also stated that he wishes to have a sincere dialogue with Kim Jong-il well within this year.

Tensions between the two countries have escalated to a phenomenal level, and at one stage both had thoroughly prepared for a war by the end of last year. Lee also said that South Korea will not need to discuss with the US, if both nations come and agree to a formal decision.