Post-Brexit, the UK and South Korea have signed an in principle free trade agreement (FTA) that seeks to maintain existing trade arrangements.
The preliminary agreement marks the first post-Brexit trade deal the UK has secured in Asia. The agreement is roughly in line with the terms of the existing Korea-EU FTA.
It would cover South Korean exports including cars and auto parts. South Korea exports mostly cars and ships to Britain, while it imports crude oil and cars.
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