South Korea and Vietnam opened a fresh round of negotiations Tuesday for a bilateral free trade agreement as the countries seek to conclude their negotiations before the end of the year.

The fifth round of FTA negotiations will be held in Seoul until Friday, according to the Ministry of Trade, Industry and Energy.

“At the fifth round of negotiations, the two countries will hold in-depth discussions in each area, including products, service, investment, country of origin, customs and cooperation,” the ministry said in a press release.

The bilateral FTA talks were launched in November 2012. In a 2013 summit, the leaders of the two countries agreed to conclude negotiations for a “comprehensive and high-level FTA” before the end of this year. The last round of talks was held in Ho Chi Minh City in March.

South Korea already has a free trade pact with the 10-member Association of Southeast Asian Nations, of which Vietnam is a member. (Yonhap)