South Korea and Panama have signed an open skies agreement.
Under the agreement, there will be no restrictions on flight frequencies and the types of aircraft that can be operated between the two countries on commercial and cargo services, says South Korea's ministry of land, transport and maritime affairs.
The agreement also grants carriers from both countries unrestricted fifth freedom rights in view that it is "difficult to open a direct route due to the as-yet immature market environment and long operation distance" between the two countries.
Carriers from both countries can also codeshare "on an autonomous basis", as Asiana Airlines and Copa Airlines are set to do so.
"This open skies agreement will facilitate people-to-people and goods exchanges between the two countries by laying the foundation for opening up routes in Panama by Korean aviation companies," adds the ministry.