BRUSSELS, South Korean President Moon Jae-in and German Chancellor Angela Merkel pledged efforts to further develop the countries' bilateral relationship during their meeting on the sidelines of the Asia-Europe Meeting (ASEM) summit in Brussels on Friday.

"The two leaders noted the countries continued to develop their complementary economic cooperation based on the South Korea-EU free trade agreement, and agreed to strengthen their future-oriented cooperation in areas of mutual interest, such as the fourth industrial revolution and fostering small and medium-sized enterprises," Moon's presidential office said.

During their second bilateral summit, they also discussed ways to peacefully denuclearize North Korea and establish lasting peace on the Korean Peninsula. Moon and Merkel first met on the sidelines of the Group of 20 summit held in Germany last year.

Moon explained the outcome of his third and latest summit with North Korean leader Kim Jong-un in Pyongyang last month.

He emphasized the need to encourage North Korea to further accelerate its denuclearization process partly by easing international sanctions against the impoverished North when and if conditions are met, Moon's chief press secretary Yoon Young-chan told a press briefing.

Merkel agreed on the need to come up with ways to further accelerate the denuclearization process, while stressing the need for the North to also put its denuclearization commitment into action, the South Korean official added.

"I appreciate the courage and determination President Moon has shown, and welcome the progress in the denuclearization process that was enabled by the determination of the president and President (Donald) Trump," she was quoted as telling Moon.

Moon arrived in Brussels on Thursday following his visits to France, Italy and the Vatican.

He will head to Denmark, the last stop of his five-nation tour, later Friday.

Source: Yonhap News Agency