The government says it has reached an agreement with Malaysia to conduct feasibility studies for one year on a bilateral free trade agreement (FTA).

The two nations will hold a meeting six months after research begins to measure the progress of the studies. When the research is finished, the two sides will discuss ways to negotiate an FTA.

South Korea and Malaysia agreed in a bilateral summit held in Kuala Lumpur in December last year to review efforts for a trade pact. The two nations agreed to conduct FTA feasibility research at their trade ministers’ meeting in January.