Japan and the Republic of Korea (South Korea) agreed in principle on new bilateral fisheries accord this morning after reaching a compromise on disputed boundaries and fishing catches in the Sea of Japan, government officials said. Under the agreement, a provisional fishing zone would be created around the group of islets known as Takeshima in Japan and Tokto in Korea. Ownership has long been a thorny issue between the two governments and remains unresolved. Tokyo and Seoul also agreed to conduct joint conservation of fishery resources in the zone.