Korea and Britain have signed an upgraded free trade agreement (FTA) aimed at easing rules of origin for Korean automobiles and consumer goods, as well as opening up the latter's high-speed rail and online game markets, Seoul's trade ministry said Tuesday. The deal was jointly signed by Korean Trade Minister Yeo Han-koo and his British counterpart, Chris Bryant, during their bilateral meeting in London, following two-year negotiations between the two countries. The original FTA between Seoul and London was signed in 2019 and implemented in 2021. Under the renewed deal, Britain decided to ease rules of origin for automobiles, beauty and food products exported by Korea, according to the Ministry of Trade, Industry and Resources. Following the deal signing ceremony, Yeo told reporters in London the upgraded FTA between Korea and Britain includes "new types of trade norms," such as supply chain cooperation, digital innovation and modern investment rules, distinct from past trade agreements.

Source: The Times December 16, 2025 11:49 UTC