Seoul Wants To Negotiate Post-Brexit Bilateral Free Trade Deal With London - Reports

Seoul will initiate negotiations with London on a new post-Brexit bilateral free trade agreement, local media reported on Thursday, citing South Korean Economy Minister Hong Nam-ki

MOSCOW (UrduPoint News / Sputnik - 14th February, 2019) Seoul will initiate negotiations with London on a new post-Brexit bilateral free trade agreement, local media reported on Thursday, citing South Korean Economy Minister Hong Nam-ki.

Seoul wants to launch talks to ensure strong ties between the countries after the United Kingdom's expected withdrawal from the European Union, according to the Yonhap news agency.

However, the minister did not mention any specific dates for the possible start of the talks.

South Korean exports to the United Kingdom amounted to $6.4 billion last year, while imports reached $6.8 billion in 2018, the news agency said, citing data from the South Korean Trade Ministry.

The United Kingdom is set to leave the European Union in late March. The two sides have reached a withdrawal deal. However, it has not yet been approved by UK lawmakers, prompting fears of a no-deal Brexit both in Brussels and in London.