The leaders of Korea and Australia will meet on this Tuesday to sign the two countries' bilateral free trade agreement finalized late last year.
During their second summit since last October, President Park Geun-hye and visiting Australian Prime Minister Tony Abbott will also seek a stronger two-way cooperation from security, the economy, to culture.
They will also discuss the security situation surrounding North Korea and other regional and global issues.
Before coming to Seoul, Abbott was in Tokyo, where he and his Japanese counterpart announced they had agreed in principle on a bilateral economic partnership agreement, a scheme which ultimately aims for an FTA.
Abbott is also scheduled to visit China later this week for a summit with President Xi Jinping and to attend the annual Boao Forum.