President Moon Jae-in and Chinese President Xi Jinping agreed to quickly normalize their relationship that was adversely affected by the diplomatic row triggered by the deployment of a US missile defense system here.

"The meeting will serve as a chance for the two countries to restore an economic cooperation channel, and the issues to be discussed will vary, ranging from economic to cultural cooperation," Kim said during an economy-related ministers meeting.

In October, Seoul and Beijing agreed to renew their swap arrangement worth 64 trillion won ($55 billion).

A currency swap is a tool for defending against financial turmoil by allowing a country beset by a liquidity crunch to borrow money from others with its own currency.

Meanwhile, South Korea is scheduled to hold an economic ministers meeting with Uzbekistan next month, and a similar meeting with the United Arab of Emirates in March.

Earlier this month, the leaders of South Korea and Uzbekistan agreed to continue working together to enhance relations between the two countries, vowing to further enhance cooperation through the South Korea-Uzbekistan economic ministers' meeting. (Yonhap)