(MENAFN) South Korea will soon announce the start of negotiations for free trade agreements (FTAs) with Ecuador and other Central American countries as part of a plan to expand its presence in the region, QNA reported.

The government has completed all domestic procedures for the start of FTA negotiations with Ecuador and a group of six Central American countries, and will seek to launch such negotiations at an appropriate time.

The six countries are Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Panama that, together with Belize, make up the entire Central America, the Ministry of Trade, Industry and Energy said.

"The government will continue to work to maximize the benefits of existing FTAs by improving or revising FTAs with low utilization rates, such as those with India and the Association of Southeast Asian Nations," the ministry said.