Ratri Pipattanaopaiboon, a woman, will be released, and Veera Somkwamkid will have his sentence reduced at the behest of Prime Minister Hun Sen, the minister said.
Veera Somkwamkid is facing eight years in prison and Ratri Pipattanaopaiboon six, on charges of espionage and illegal entry into Cambodia.
Some 50,000 Cambodians are thought to be working in Malaysia, either legally or illegally, earning between $135 and $200 per month.
New secretary general Le Luong Minh acknowledges economic, political challenges the South China Sea poses to countries in the region, call for guidelines, cooperation.
An estimated 50,000 Cambodian workers, legal and illegal, are thought to be working in Malaysian households, factories and restaurants, earning between $135 and $200 per month.
This is the fifth such scheme to be broken up in Cambodia in recent years, with cooperation from Chinese authorities, who are having to track extortion operations outside the country after a crackdown within it.
Park Geun-hye has won South Korea's presidential election, becoming the country's first ever female leader.
The declaration was passed at an Asean summit in Phnom Penh in November, despite objections by rights advocates.
Rights advocates worry about vague language in the declaration that could shield autocratic regimes from abiding by international human rights norms.
Cambodia has friendly relations with North Korea and open lines of communication with the communist country.
Prime Minister Hun Sen also urged North Korea to return to six-party talks over its nuclear program.
Diminishing local resources, poachers and ivory smugglers threaten survival of the nation's dwindling elephant population.