The UK has today kicked off preparations to negotiate an enhanced Free Trade Agreement with South Korea

  • UK launches eight-week public consultation on an enhanced free trade agreement with South Korea
  • Businesses, organisations and individuals asked to shape UK’s negotiating aims before talks are launched with the 10th biggest economy in the world
  • Minister Greg Hands visited semi-conductor innovation centre in Newport, South Wales last week to discuss how an enhanced trade deal could increase UK technology exports to South Korea

The UK has today kicked off preparations to negotiate an enhanced Free Trade Agreement with South Korea by launching a call for input asking businesses, organisations and individuals to help shape the UK’s negotiating aims ahead of talks.

The new deal will upgrade our trading agreement with South Korea, ensuring a more modern and fit-for-purpose deal that builds on our existing £14.3 billion trading relationship and meets the specific needs of the UK. This will include important areas such as digital trade, enhanced climate provisions and further support for small and medium sized businesses.

The news comes following Minister for Trade Policy Greg Hands’ visit to CSA Catapult in Newport last week to discuss how an enhanced Free Trade Agreement could increase UK exports to the growing South Korean market. CSA Catapult is a semiconductor research and technology organisation funded by Innovate UK which specialises in promoting UK next generation technology around the world.

For more information please click here. You can respond to the consultation, which closes on 2 February 2023, and find more information on UK–South Korea trade via the online platform here.

 

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