Trade Minister Cheong In-kyo met his Chinese counterpart and agreed to begin talks on services and investment under a bilateral trade deal this year, officials said Friday.

The meeting between Cheong and Wang Shouwen, China's international trade representative, was held in Beijing earlier in the day, Seoul's trade ministry said.

Seoul and Beijing implemented their bilateral FTA in December 2015 and held their first follow-up meeting in 2018 to broaden cooperation in the investment and service sectors.

The two countries agreed to hold an investment cooperation committee meeting in Beijing to provide a stable and predictable business environment for companies as well, the ministry said.