Free trade agreement between UK and South Korea to boost exports [Yahoo! Finance]
Diageo plc (DEO)
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Source: Yahoo! Finance
The agreement was announced in London by UK Trade Minister Chris Bryant and Korean counterpart Yeo Han-koo at Samsung KX. UK services exports to South Korea are projected to rise by £400m ($534.7m), with particular benefits for the pharmaceutical, automotive, food and drink sectors. The agreement also aims to strengthen worldwide supply chains. The UK Government noted that £2bn worth of exports were close to being affected by increased tariffs. With this agreement, these exports will continue to have preferential access to South Korea. The South Korea deal is the fourth trade agreement reached by the UK in 2025, following similar deals with the EU, the US and India. UK Prime Minister Keir Starmer said: “This is a huge win for British business and working people and marks our fourth major agreement in 2025 after the EU, India and US. “From food to TV, music and more, Korean culture is already influential here in the UK. This deal making trade even easier between us will help
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