Seoul: South Korean President Lee Jae Myung expressed his hope for more progress in ongoing negotiations to revise a bilateral free trade agreement (FTA) with Britain, as he met British Prime Minister Keir Starmer on the margins of the Group of Seven summit in Canada on Tuesday.

According to Yonhap News Agency, Seoul and London have held three rounds of negotiations to enhance the FTA since January 2024, as they seek to deepen cooperation in supply chains, trade, and other areas. The current FTA took effect in January 2021, after Britain's departure from the European Union.

"I believe that in fact, there needs to be further progress on the issue of revising our FTA, and I hope this (meeting) serves as a good opportunity to strengthen the existing cooperative relationship between the two countries," Lee said at the start of the talks.

Starmer expressed his desire to strengthen cooperation with South Korea in areas such as the economy, security, and defense, particularly emphasizing the importance of a revised trade agreement. He also thanked Seoul for its support for Ukraine in its fight against Russia.