Rio de Janeiro: President Yoon Suk Yeol and British Prime Minister Keir Starmer have agreed to accelerate negotiations aimed at upgrading the bilateral free trade agreement (FTA) between South Korea and the United Kingdom. The goal of these discussions is to enhance cooperation in various sectors, including services, supply chains, digital trade, and biotechnology, as confirmed by President Yoon's office. According to Yonhap News Agency, the meeting between Yoon and Starmer took place in Brazil on the sidelines of the Group of 20 summit in Rio de Janeiro. This encounter marked their second face-to-face meeting, following discussions in Washington in July. The initial round of negotiations for revising the FTA began in January, as both countries aim to strengthen their trade relationships. The existing FTA was implemented in January 2021 after the United Kingdom's departure from the European Union. During the summit, the discussions also touched upon security issues on the Korean Peninsula and the increasing military cooperation between Russia and North Korea. The two leaders acknowledged their joint efforts to deliver a unified and strong condemnation of these security concerns and pledged to continue working closely for coordinated responses, as highlighted in a release from Yoon's office. Additionally, Yoon and Starmer recognized the interconnected security challenges facing Northeast Asia and Europe. They agreed to collaborate on peace and reconstruction efforts in Ukraine, emphasizing the importance of addressing these global security issues in a coordinated manner.
Yoon and British PM Agree to Expedite FTA Upgrade Talks.
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