The UK says it has agreed an improved trade deal with South Korea that could boost services trade by hundreds of millions of pounds a year and protect more than £2bn of goods exports, including Bentley cars, Guinness stout and Scottish salmon.
The announcement came just weeks before the UK’s existing post-Brexit trade agreement was due to expire, sparing the country’s exporters from the threat of tariff increases if a deal had not been struck.
Sir Chris Bryant, the UK trade minister, called the deal a “significant upgrade” to the relationship, particularly for UK financial services firms, architects and construction businesses that would now be able to tender for South Korean government contracts.
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