SEOUL, Oct. 16 (Xinhua) -- South Korea and Peru will hold their fourth round of free trade talks next week, South Korea's trade ministry said Friday.

    According to the ministry, the talks will begin in the Peruvian capital of Lima, running for five days through Thursday.

    Negotiators from both countries will exchange views to narrow differences on tariff concessions and other key issues, the ministry said.

    The free trade talks begin last November when South Korean President Lee Myung-bak and Peruvian President Alan Garcia held a summit, officially launching the negotiations.

    As of end-2008, bilateral trade topped 1.62 billion U.S. dollars, while South Korea's exports to its South American partner reaching 720 million U.S. dollars, the ministry said.

    Among Latin American countries, Chile is the only nation that South Korea signed a free trade agreement with.

    South Korea is currently seeking for a free trade pact with Mexico as well.