Britain hails ‘golden age’ in South Korea relations after crucial trade deal struck
South Korea trade deal set to safeguard £2 billion worth of UK exports
- A new free trade agreement has been successfully concluded between the UK and South Korea, preventing impending tariff increases on British exports.
- The agreement is set to safeguard £2 billion worth of UK exports and is projected to boost services exports by £400 million.
- This pact replaces a temporary arrangement that was due to expire on 1 January, which had extended a previous continuity deal following the UK's departure from the EU.
- UK officials have hailed the agreement as the dawn of 'a new golden age of UK-South Korea relations'.
- Businesses including Bentley, Jaguar Land Rover, and Guinness-owner Diageo have praised the deal, highlighting its importance for their access to the South Korean market.