The UK government said on Monday it had concluded a trade deal with South Korea to maintain links after Brexit. International Trade Secretary Liam Fox agreed a preliminary deal with Korean Minister of Trade Yoo Myung-Hee in Seoul, according to the statement.
It is Britain’s first post-Brexit trade deal in Asia and follows similar agreements with nations including Chile, Iceland, Norway and Switzerland, AFP said.
The UK and South Korea signed an in principle free trade agreement that will allow businesses to continue trading freely after Brexit, the government in London said.
“Trading on these terms rather than on World Trade Organization terms will deliver significant savings and help to safeguard British jobs,” it added.