KUALA LUMPUR: South Korea’s Ambassador to Malaysia, Yeo Seung Bae,, has reaffirmed Seoul’s commitment to finalising a free trade agreement (FTA) with Malaysia, calling it a key step in deepening economic and strategic ties.
Speaking to Bernama, Yeo highlighted that the FTA goes beyond traditional trade, incorporating digital transformation, green economy initiatives, and bio-economy cooperation. “This is not just a conventional trade deal but a forward-looking partnership,“ he said.
Negotiations have progressed significantly, with nine rounds completed. Yeo expects the deal to be finalised during the ASEAN summit in October, marking a milestone in bilateral relations. “Both nations stand to gain, from businesses to farmers and fishers,“ he added, though specifics remain confidential.
The push for the FTA follows a recent phone conversation between Malaysian Prime Minister Anwar Ibrahim and South Korean President Lee Jae Myung, where both leaders agreed to expand cooperation.
Yeo noted that under President Lee’s new administration, South Korea is prioritising pragmatic diplomacy, particularly with ASEAN. “This year is significant—Malaysia chairs ASEAN, while Korea hosts APEC. Expect more high-level engagements,“ he said.
South Korea is Malaysia’s eighth-largest trading partner, with bilateral trade surpassing US$20 billion annually since 2020.
