South Korea and Mongolia will hold their fourth round of negotiations toward a bilateral economic partnership agreement this week. 

The Ministry of Trade, Industry and Energy said Tuesday that the two sides will sit down for talks in Seoul from Tuesday to Friday. 

The ministry said the two nations plan to hold in-depth negotiations on 19 areas including commodities, services, investment and government procurement. 

Trade Minister Cheong In-kyo said in his opening remarks that the two nations have significant potential for collaboration and expressed hope that the envisioned pact will expand bilateral cooperation in sectors such as supply chains, logistics and infrastructure. 

An economic partnership agreement is narrower in scope than a traditional free trade agreement and focuses on establishing a mutually beneficial trade network between partner nations.