South Korea and Malaysia have adopted a bilateral free trade agreement(FTA).

Presidential spokesperson Kang Yu-jung said in a written briefing on Monday that President Lee Jae-myung and Malaysian Prime Minister Anwar Ibrahim had adopted the trade accord the same day during the two leaders' meeting on the sidelines of the South Korea-ASEAN summit in Kuala Lumpur.

Kang said the two leaders expressed hope that the FTA will not only expand bilateral trade and investment but also expedite cooperation in strategic industries, including artificial intelligence.

Lee and Ibrahim also agreed to continue cooperating across defense, smart infrastructure and energy.

The Malaysian prime minister said South Korea is an important and trustworthy partner in terms of Malaysia’s defense capacity, adding that he hopes Seoul and Kuala Lumpur will boost defense cooperation under a related memorandum of understanding.

Lee sought Malaysia’s support and cooperation for Seoul’s efforts to usher in an era of co-prosperity and joint growth on the Korean Peninsula.