The ASEAN–Korea Free Trade Agreement (AKFTA) is set to be upgraded, with its scope now being finalised ahead of the ASEAN Leaders’ Meeting in October. Malaysia’s Minister of Investment, Trade and Industry, Tengku Zafrul Abdul Aziz, said the agreement will address key areas including trade, investment, supply chains, and semiconductors. He emphasised that the upgrade reflects a commitment to deeper cooperation, particularly under the ASEAN–Republic of Korea Comprehensive Strategic Partnership launched last year.
The consultation highlighted opportunities for collaboration in the digital economy, green transition, and resilient supply chains. Zafrul noted that millions of Koreans engage in travel, study, and business across ASEAN, reinforcing trust and connectivity in the region. South Korea’s Trade Minister, Yeo Han-Koo, added that ASEAN is now Korea’s second-largest trading partner after China, with relations continuing to expand through multilateral and bilateral agreements. Both sides reaffirmed that the upgraded AKFTA will serve as a foundation for shared prosperity, sustainable growth, and regional resilience.
