South Korea and Malaysia have resumed negotiations for a bilateral free trade agreement(FTA) after a five-year hiatus.
 
The industry ministry announced on Tuesday that the fourth round of FTA negotiations with Malaysia will be held from Tuesday to Friday in Kuala Lumpur.

This marks the first meeting since September 2019. The two countries agreed to seek a bilateral FTA in 2019, but related negotiations stalled after three rounds of talks that year.

The two sides plan to seek a comprehensive FTA that includes market access and new trade norms, expanding the scope of the trade deal to cover areas such as services, investment, digital, and biotechnology. 

Noting that Malaysia is the third-largest trade partner for South Korea among members of the Association of Southeast Asian Nations(ASEAN), the ministry expressed hope that the deal will strengthen trade and investment ties with ASEAN under a mutually beneficial trade system with Malaysia.