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Trade between the UK and Korea has increased by an average of 12% per year since the EU-Korea agreement was implemented in 2011. Cars are among the fastest growing British exports to Korea. 2.As of an EU member state, the United Kingdom is a party to the EU-Korea Free Trade Agreement, which was provisionally implemented in July 2011 and came into force in December 2015 (2). Therefore, the agreement will apply either from the date of withdrawal without an EU agreement (which could take place as early as 1 November 2019), or, if there is an agreement between the UK and the EU, effective at the end of a transitional period. The agreement covers trade in goods and commitments in other areas, such as services, intellectual property and public procurement. You can continue to use EU materials or transformations in your exports to South Korea. The United Kingdom and Korea must have met the requirements of the origin protocol. You must also ensure that the work or transformation you are doing in the UK goes beyond the minimum operations mentioned in the agreement and that the other relevant conditions are met. Source: Department for International Trade Continued UK trade relations with the Republic of Korea (1 September 2019):assets.publishing.gov.uk/government/uploads/system/src/attachment_data/file/830134/UK-South_Korea_trade_agreement.pdf [available 16 October 2019. On 22 August 2019, the United Kingdom (United Kingdom) and the Republic of Korea (South Korea) signed a free trade agreement www.gov.uk/government/news/uk-and-korea-sign-joint-statement-for-trade-continuity on 17 October 2019] The United Kingdom (United Kingdom) and the Republic of Korea (South Korea) signed a free trade agreement on 22 August 2019.

[1] In the event of a Non-Brexit Deal on 31 October 2019, the trade agreement between Britain and Korea will enter into force, allowing British and Korean companies to continue to operate under the same preferential conditions under the free trade agreement between the European Union (EU) and Korea. 13.In the parliamentary report states that the agreement retains most of the provisions and institutional bodies of the EU-Korea agreement, but with some modifications “to ensure their feasibility in a bilateral context”. A “Trade” committee will be made up of representatives from each of the contracting parties and will be co-chaired by the Minister of Trade, Korea, and the British Foreign Minister for International Trade. The “Trade” committee meets once a year and will ensure, among other things, that … the agreement works properly” and “monitors and facilitates the implementation and implementation of the agreement” (Article 15.1). To date, the UK has signed 13 trade agreements with 38 countries, including Chile and Switzerland, to ensure the continuity of existing EU trade agreements, in which the UK participates as an EU member state. [2] South Korea is the first Asian trading partner to sign a trade continuation agreement with the UK, which will be implemented after Brexit.

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