South Korea and Thailand agreed Monday to jointly check the feasibility of Thailand's planned water management project, a move that could also lead to Seoul's participation in the project valued at 680 billion won (US$609 million), the Seoul government said.

Under a memorandum of intent signed Monday, South Korea will help review the technical feasibility of the two-stage water management project, according to the Ministry of Land, Infrastructure and Transport.

The project mainly seeks to build floodways and reservoirs to help prevent annual floods, which killed more than 800 people in 2011 alone.

South Korea's state-run K-Water was tapped as a preferred bidder for the construction project in 2013, but the project was scrapped following the successful coup in Thailand the following year.

The latest agreement signed by the South Korean ministry and Thailand's Ministry of Agriculture and Cooperatives states the sides will establish a joint working committee to discuss Seoul's technical support for the project, the ministry said in a press release. (Yonhap)