27th August 2019
On August 22, 2019, the United Kingdom (UK) and the Republic of Korea (Korea or South Korea) signed a continuity Free Trade Agreement (FTA). In the event of a no-deal Brexit on October 31, 2019, the UK – Korea trade agreement will enter into force, allowing British and Korean businesses to continue to trade on the same preferential terms under the European Union (EU) – Korea FTA.
To seek continuity for existing EU trade agreements to which the UK participates as an EU Member State, the UK has so far signed 13 trade agreements with 38 countries, for instance, with Chile and Switzerland. South Korea is the first Asian trading partner to sign a trade continuity agreement with the UK to be applied after Brexit.
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