BEIJING, Jan. 1 (Xinhua) -- Chinese President Hu Jintao and his South Korean counterpart Lee Myung-bak exchanged new year greetings Sunday and announced the start of the "China-South Korea Friendly Exchange Year".

In his message, Hu spoke positively of the relations between the two countries. Seizing the opportunity of the 20th anniversary of the establishment of the China-South Korea diplomatic relations, China is willing to work together with South Korea, by launching various exchange programs, to further promote mutual understanding and friendship between the two peoples, deepen communication and cooperation in all sectors, and push for constant progress of the bilateral relationship, Hu said.

For his part, Lee said on the basis of the accomplishments achieved over the two decades of the bilateral diplomatic ties, South Korea looks forward to joining hands with China to build a better future for the bilateral relationship.