The fourth round of talks will continue until Friday, with an expanded agenda that includes investment and service sectors, according to the Ministry of Trade, Industry, and Energy.
The last round of talks was held in September 2019.
Malaysia is Korea’s third-largest trading partner and fourth-largest investment destination in the 10-nation Association of Southeast Asian Nations (ASEAN).
“Given the complementary trade structures between the two nations, if the Free Trade Agreement (FTA) is signed, it will help strengthen Korea’s trade and investment base in ASEAN,” the ministry said.
The two sides will expand negotiations beyond the goods sector to include services, investment, digital trade, green technology and biotechnology, according to the ministry.
They aim for a comprehensive FTA that encompasses both market access and new trade regulations.
Yoo Beop-min, chief negotiator for FTA, leads the Korean delegation while Malaysia’s team is headed by Sumathi Balakrishnan, director of the negotiation strategy department at the Ministry of Investment, Trade and Industry.