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Korea, Malaysia set to hold ninth round of FTA negotiations in Kuala Lumpur

Published: 13 May. 2025, 08:45 Updated: 13 May. 2025, 14:51

Former Korean President Moon Jae-in and former Prime Minister of Malaysia Mahathir Mohamad hold a summit at the Blue House on Nov. 28, 2019. [JOINT PRESS CORPS]

Korea and Malaysia were set to hold their ninth round of negotiations for a bilateral FTA on Tuesday, as the two sides seek to broaden their trade portfolio and enhance cooperation, Seoul's Ministry of Trade, Industry and Energy.

The latest round of talks for an FTA was scheduled to kick off in Kuala Lumpur for a three-day run, involving some 70 trade officials from the two countries, according to the Industry Ministry.

The countries are seeking to make progress in eight separate areas, including market access for goods and services, as well as economic cooperation, the ministry added.

Following a five-year hiatus, the two nations agreed to resume their FTA negotiations in March 2024.

Korea already has an FTA with the Asean, but it is seeking to forge separate free trade deals with individual members, including Malaysia.

"A bilateral FTA with Malaysia, a promising market in the Asean region, will greatly help Korean companies boost their competitiveness in the global market and mitigate uncertainties amid growing risks sparked by U.S. tariff measures and the spread of global trade protectionism," Kwon Hye-jin, director general for FTA negotiations at the ministry, said.

"The government will actively engage in discussions with Malaysia to conclude the FTA negotiations as soon as possible," Kwon added.

Yonhap