South Korea, Britain set up 'hotline' in effort to conclude post-Brexit FTA
- 5 years ago
South Korea and the UK have set up a special communication channel as the deadline for Britain to leave the European Union edges ever closer.
There are concerns in Seoul that if the UK leaves the EU in a "no deal" Brexit, it could have a huge impact on the tariff benefits currently enjoyed by South Korea.
Lee Seung-jae reports.
Earlier this month,... Britain's House of Commons voted 432 to 202 against Prime Minister Theresa May's plan for taking the UK out of the EU.
If the country leaves the EU with no deal on the March 29th deadline,... South Korea could face a significant impact on tariffs under its FTA with the EU.
South Korea's Ministry of Foreign Affairs revealed on Wednesday,... that a Korea-UK Director-General Meeting was held in London to discuss ways to cooperate on bilateral relations.
The two sides discussed ways to minimize the negative impact of Brexit on economic cooperation, trade and investment between the two countries.
Britain promised to closely communicate and share its progress with South Korea,... by setting up a 'hotline'.
Through the communication channel,... Britain believes it will be able to promote a South Korea-UK FTA in a swift and mutually beneficial way.
In 2017, South Korea posted a record high trade volume with Britain at 14-point-four billion dollars.
Lee Seung-jae, Arirang News.
There are concerns in Seoul that if the UK leaves the EU in a "no deal" Brexit, it could have a huge impact on the tariff benefits currently enjoyed by South Korea.
Lee Seung-jae reports.
Earlier this month,... Britain's House of Commons voted 432 to 202 against Prime Minister Theresa May's plan for taking the UK out of the EU.
If the country leaves the EU with no deal on the March 29th deadline,... South Korea could face a significant impact on tariffs under its FTA with the EU.
South Korea's Ministry of Foreign Affairs revealed on Wednesday,... that a Korea-UK Director-General Meeting was held in London to discuss ways to cooperate on bilateral relations.
The two sides discussed ways to minimize the negative impact of Brexit on economic cooperation, trade and investment between the two countries.
Britain promised to closely communicate and share its progress with South Korea,... by setting up a 'hotline'.
Through the communication channel,... Britain believes it will be able to promote a South Korea-UK FTA in a swift and mutually beneficial way.
In 2017, South Korea posted a record high trade volume with Britain at 14-point-four billion dollars.
Lee Seung-jae, Arirang News.