Lee Myung-bak, who was elected by overwhelming dominance as the 17<SUP>th</SUP> president of South Korea, on December 19<SUP>th</SUP>, 2007, has ever claimed that the diplomacy of South Korea would be focused on “Creative Pragmatism with principles ”. Lee Myung-bak Administration advocates that it will build up the country to a world power, by the means of combining the national interest with the common values of human, under the principle of pragmatism. Different from his predecessors Kim Dae-jung and Roh Moo-hyun, Lee especially emphasises on restoring the mutual respect between South Korea and the United States, strengthening the alliance with the United States, and promises in public for many times to strengthen the safety and safeguard agreement of South Korea and the United States, which has been weakened by his predecessors. And also, the Administration supports the American garrison in South Korea. All the changes of emphasis from Lee Administration, have ever induced a series of anxieties and guesses towards the turn of the situation of the Korean peninsula and the reformation of the political situation of Northeast Asia. April in 2008, during the process of Torch Relay in Seoul, the conflict between Korean and Chinese brought the disharmonies potentially existing between the two countries since the establishment of diplomatic relations to a climax. Under the circumstances of the criticism from the public, who judge that the administration is close to America while drifting apart from China, and the relationship among the people between Chinese and Korean has suffered “cold snap”, Lee Administration paid an official visit to China, on May 27<SUP>th</SUP>, in 2008. Then China and South Korea signed some agreements in the respects of politics, economy, social and cutural communication and development, in order to promote the former “comprehensive and cooperative partnership” put forward by Roh Moo-hyun, to a “strategic partnership”, and also to make the bilateral relation of the two countries realize a qualitative leap, therefore, the relationship of China and South Korea can be developed to a new stage. This paper is based on the above background, aims at analyzing the cooperative basis and the potential inconsistencies in the cooperative partnership and then puts forward some policy views, from the angle of the pragmatism diplomacy of the new Administration. According to the paper, Lee Myung-bak’s pragmatism diplomacy, used to China, is a way to build the cooperative mechanism between China and South Korea, under the policy of economy and trade diplomacy. That is to say, through the high-level talks mechanism, it aims to promote the FTA, and strengthen the plans for cooperation on energies, environment, sophisticated technology and other fields. The reason for South Korea to build up the partnership with China is that Korea has realized that China plays an important role in dealing with the nuclear issue on the Korean Peninsula and the Peace Mechanism, balancing the relations between Korea and the U.S, and the relations with Japan, and breaking and distracting the “open to America, closed to South Korea” strategy carried out by North Korea. In order to ensure the strategic partnership of South Korea and China to be healthily developed, the prior issue for the South Korean government is to purse “the Value Alliance” and “the New Asian Diplomacy”, in this way to eliminate Chinese worries towards Korea’s strategy of “close to America, apart from China”. For China, healthy and stable relationship between China and South Korea is one of important factors to guarantee the status of China in the area of Northeast Asia. Therefore, it is necessary in the respect of the government to induce the variables which may potentially do harm to the relations of the two countries, then to reduce the negative impacts at the maximum.