House of Commons · Written Ministerial Statement
Upgraded Free Trade Agreement with the Republic of Korea: negotiation update
15 December 2025 · Department for Business and Trade
Proposed by Chris Bryant Lab Rhondda and Ogmore
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- The UK has concluded negotiations with South Korea on an upgraded Free Trade Agreement.
- The treaty aims to reduce trade barriers and enhance market access for UK businesses.
- Further updates on the treaty's preparation for signature are expected in due course.
Issue summary
The UK has concluded negotiations with South Korea on an upgraded Free Trade Agreement (FTA) that builds upon existing trade ties.
Action requested
The statement announces the completion of the FTA and outlines plans to prepare the treaty for signature, with further updates expected in due course. The deal aims to support economic growth by reducing barriers to trade and enhancing market access for UK businesses in key sectors such as advanced manufacturing, life sciences, and services.
Key facts
- The agreement covers 98% of Korean tariff lines in key sectors.
- Services exports are estimated to increase by £400 million annually due to the FTA.
- The RoK’s Sejong City procures an average of £46.2 million worth of goods and services annually.
- UK exports supported around 92,000 jobs in 2020.