South Korean President Lee Myung-bak will hold bilateral talks with Chinese and Japanese leaders later Wednesday to discuss measures to help call the Democratic People's Republic of Korea (DPRK) back to the negotiating table, local media reported.

President Lee and President Hu will discuss a wide range of issues, including the DPRK's nuclear issue, South Korea's Yonhap News Agency said, quoting presidential spokeswoman Kim Eun-hye.

Lee's meeting with Japan's new Prime Minister Yukio Hatoyama is to follow the Lee-Hu meeting, the media added.

The bilateral gatherings come shortly after President Lee introduced a new policy package towards the DPRK, called a "grand bargain," which promises a full range of incentives to the DPRK under the condition of its complete denuclearization in a single step.

The leaders of the three East Asian nations are also set to hold a three-way summit in China next month, Yonhap said.