South Korea and Japan are likely to ease their entry bans on travelers from each other's countries in the near future, beginning with businesspeople.

A diplomatic source in Seoul said on Sunday that the two nations are in the final stage of related discussions, adding they are coordinating the wording of the agreement and that both sides are reportedly considering making the related announcement within this month.

An official from Seoul's Foreign Ministry also said that there has been progress in the discussions, although it is hard to confirm when they will make the announcement or ease the entry bans.

A limited number of businesspeople will reportedly be the first beneficiaries of the possible move, and the number will be increased steadily.

The two nations will reportedly exempt businesspeople from both countries from undergoing the mandatory two-week isolation on condition that they submit negative virus test results before departure and test negative in another test after arrival.