eseoulpost
BusinessTrade
S. Korea, Britain agree on post-Brexit FTA
min  |  min
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
승인 2019.06.10  
트위터 페이스북 미투데이 요즘 네이버 구글 msn
   
 

SEOUL, June 10 (Yonhap) -- South Korea and Britain reached an agreement Monday to maintain their current free trade agreement even after the "no deal" Brexit, with Seoul becoming a major non-EU member economy to seal such a deal as it braces for the fallout from the divorce.

 The move came amid concerns that South Korean companies may no longer enjoy the benefits under the South-EU FTA if Britain leaves the world's single largest economic bloc without agreeing on post-Brexit conditions.

 Britain has set Oct. 31 as the new Brexit deadline to allow the country to find the best possible solution, which means the new agreement must be ratified by the date to be immediately implemented in November, Seoul's trade ministry said.

 The agreement came at a meeting between Trade Minister Yoo Myung-hee and her British counterpart Liam Fox in Seoul.

 "The deal is significant as it eased uncertainties sparked by Brexit, amid the already challenging environment for exports on the escalating trade row between Washington and Beijing," Yoo said.

 

"We will make our best efforts to help South Korean businesses maintain their operations with Britain without troubles," Yoo added.

 

Britain, Seoul's second-largest trading partner among the EU members, is the 18th-largest trading partner for Asia's fourth-largest economy, accounting for less than 2 percent of its overall trade.

 South Korea's exports to Britain reached US$6.36 billion in 2018. The Asian country's economy mostly exports automobiles and ships to Britain, while it imports crude oil and cars.

 The agreement focused on maintaining the level of terms that roughly fall in line with the existing Seoul-Brussels FTA that was signed in 2010 and provisionally took effect in 2011.

 Seoul will also seek to update the latest FTA further two years after the deal takes effect, the ministry said.

 The two countries also vowed to expand cooperation in emerging industrial segments, including energy and artificial-intelligence technology, according to the ministry.

 

 


 

< 저작권자 © eseoulpost 무단전재 및 재배포금지 >
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
트위터 페이스북 미투데이 요즘 네이버 구글 msn 뒤로가기 위로가기
이 기사에 대한 댓글 이야기 (0)
자동등록방지용 코드를 입력하세요!   
확인
- 200자까지 쓰실 수 있습니다. (현재 0 byte / 최대 400byte)
- 욕설등 인신공격성 글은 삭제 합니다. [운영원칙]
이 기사에 대한 댓글 이야기 (0)
Most Read
1
Taiwan rejects one 'country, two systems' in National Day address
2
Ministry of Economy, US delegation discuss ways of enhancing joint economic cooperation
3
Sharjah Ruler visits Naval Museum of Madrid
4
Russia keen on filling UAE’s food import demand, say experts
5
Saif bin Zayed unveils first floating smart police station
6
UAE's astronauts return home, receive hero welcome from Mohamed bin Zayed
7
S. Korea, Japan end 1st round of talks on trade row, agree to meet again
8
Dubai to host 2019 First Global DXB Challenge robotics event
9
Annual Countering Violent Extremism Research Conference presents top research from around the world
10
Khalifa bin Zayed Al Nahyan Foundation
Photo News Green Biz
ADNOC ranked amongst five lowest GHG emitters in oil and gas industry
ADNOC ranked amongst five lowest G...
min
World Green Economy Summit 2018 concludes
World Green Economy Summit 2018 co...
min
Restoration of nature requires actions of many :Al Zeyoudi
Restoration of nature requires act...
min
Al Zeyoudi to head UAE delegation to upcoming Global Climate Action Summit in California
Al Zeyoudi to head UAE delegation ...
min
Plastic wastes from Korea legal: MisOr ecozone exec
Plastic wastes from Korea legal: M...
min
Photo News Sports
Taiwan shuts out Japan to clinch U-12 Baseball World Cup title
Taiwan shuts out Japan to clinch U...
min
Mohammed bin Rashid receives trophy from Queen Elizabeth II on historic Royal Ascot win
Mohammed bin Rashid receives troph...
min
(U20 World Cup) S. Korea's Lee Kang-in wins Golden Ball as tournament MVP
(U20 World Cup) S. Korea's Lee Kan...
min
Taiwan recurve women's team win gold at Archery World Cup
Taiwan recurve women's team win go...
min
Dodgers' Ryu Hyun-jin wins 7th game of '19, has scoreless streak snapped at 32 innings
Dodgers' Ryu Hyun-jin wins 7th gam...
min
Special Olympics Flame of Hope arrives Wahat Al Karama ahead of event's grand opening
Special Olympics Flame of Hope arr...
min
Mohammed bin Rashid attends Super Saturday races at Meydan
Mohammed bin Rashid attends Super ...
min
Sharjah welcomes delegates of 24 countries participating in Special Olympics Abu Dhabi
Sharjah welcomes delegates of 24 c...
min
Photo News World
Taiwan shuts out Japan to clinch U-12 Baseball World Cup title
Taiwan shuts out Japan to clinch U...
min
Mohammed bin Rashid receives trophy from Queen Elizabeth II on historic Royal Ascot win
Mohammed bin Rashid receives troph...
min
(U20 World Cup) S. Korea's Lee Kang-in wins Golden Ball as tournament MVP
(U20 World Cup) S. Korea's Lee Kan...
min
Taiwan recurve women's team win gold at Archery World Cup
Taiwan recurve women's team win go...
min
Dodgers' Ryu Hyun-jin wins 7th game of '19, has scoreless streak snapped at 32 innings
Dodgers' Ryu Hyun-jin wins 7th gam...
min
Special Olympics Flame of Hope arrives Wahat Al Karama ahead of event's grand opening
Special Olympics Flame of Hope arr...
min
Mohammed bin Rashid attends Super Saturday races at Meydan
Mohammed bin Rashid attends Super ...
min
Sharjah welcomes delegates of 24 countries participating in Special Olympics Abu Dhabi
Sharjah welcomes delegates of 24 c...
min
Photo News Opinion
S. Korea confirms new African swine fever case
S. Korea confirms new African swin...
min
Samsung Electronics' Q3 earnings more than halve, beat market consensus
Samsung Electronics' Q3 earnings m...
min
World’s Best Age-Friendly Practices
World’s Best Age-Friendly Practice...
min
Civic demonstrators to hold rally for prosecutorial reform, justice minister this weekend
Civic demonstrators to hold rally ...
min
Industrial output up for 2nd consecutive month in August
Industrial output up for 2nd conse...
min
S. Korea struggling to determine cause of African swine fever outbreak
S. Korea struggling to determine c...
min
In New York, Moon underlines Seoul's stake in peace process, response to climate change
In New York, Moon underlines Seoul...
min
S. Korea reports 6th confirmed African swine fever case
S. Korea reports 6th confirmed Afr...
min
Newspaper AboutNews ReportAdvertiseComplaintsPrivacy PolicyJuvenile protectionRejection of E-mail Collection
Gangnam-gu, Teheran 52 street in Tehran Bldg, 616(Yeoksam-dong)  |  Main Phone: 02) 563-0604  |  Fax: 02) 538-5665
Chairman : jeong-woo Lee  |  Advisor : byung-il Min  |  Publisher: jae-mo Kah  |  Editors: il-hong Kim
Registration Number 1928 Seoul ah  |  eseoulpost.com / eseoulpost.net / Global Korea.,Ltd
Copyright © 2011 eseoulpost. All rights reserved. mail to jaemokah@daum.com , kih10kr@empas.com/ www.globalkorea.info
arabafrica.net / UAE Interract / Emirtes News Agency(WAM)/ http://wam.org.ae / www.uaeinteract.com