"South Korea is actively reviewing an idea of pursuing a free trade agreement (FTA) with the Gulf Cooperation Council," Finance and Economy Minister Kwon O-Kyu told a Qatar economic forum being held in Seoul.

The council groups Qatar, Saudi Arabia, Bahrain, Kuwait, Oman and the United Arab Emirates.

South Korea has already signed FTAs with Chile and Singapore. Free trade talks are well under way with the United States and Seoul will open talks with the European Union in March.