The third-round meeting to improve the Comprehensive Economic
Partnership Agreement (CEPA) is scheduled to start in Seoul on Thursday for a two-day run, the ministry said. CEPA is a type of free trade agreement that emphasizes two-way economic cooperation on top of market opening.
In 2010, the two Asian economic powerhouses implemented the CEPA, which calls for eliminating or cutting tariffs on goods over the next 10 years.
In June last year, the countries began official talks to improve the trade agreement.
The upcoming round of talks will be focused on accelerating the improvement of concessions on goods and services and country-of-origin standards, the ministry said, adding efforts would be made to produce tangible results within this year.
The ministry said the CEPA improvement talks are expected to help diversify bilateral trade and South Korea 's investment in India with huge growth potential amid an uncertain international trade climate, including growing protectionism.