S. Korea, UK agree to sign free trade deal ahead of Brexit - Reuters
|South Korea's Trade Ministry issued a statement on Monday, announcing that South Korea and Britain have agreed in principle to sign a separate free trade deal ahead of the Brexit due late October.
Main Points:
The deal would help South Korea minimize trade uncertainty and maintain trade with Britain based on Seoul's existing free trade agreement with the EU.
The deal includes keeping zero-tariffs on South Korean exports such as auto parts and automobiles.
South Korea will also prepare responses to other possible scenarios including a 'no-deal' Brexit.
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