SEOUL South Korea plans to ratify an agreement on economic cooperation with North Korea at a national assembly session next month, the local Yonhap news agency said on Saturday.

The government and the ruling millennium Democratic Party will meet to discuss the issue on Wednesday, Yonhap quoted a ruling party lawmaker as saying.

North and South Korea last year struck a pact, which would ensure investment guarantees, avoidance of double taxation and other economic cooperation measures between them, Reuters reported.