South Korean President Moon Jae-in held a summit Tuesday in Kuala Lumpur with Malaysian Prime Minister Mahathir bin Mohamad.

The two leaders agreed to get started on negotiating a bilateral free trade agreement, aiming to strike the deal within this year.

They also discussed ways to prepare for the fourth industrial revolution, promising collaboration in the areas of Information and Communication Technology, or ICT, and smart city development. 

While trying to jointly discover new growth engines, the two leaders also discussed various events to celebrate the 60th anniversary of their diplomatic ties next year. 

Moon will attend a state dinner hosted by Malaysia's King Sultan Abdullah Sultan Ahmad Shah Wednesday night. After taking part in the South Korea-Malaysia business forum Thursday, Moon is set to fly to Cambodia to wrap up his three nation tour.