UK, South Korea Sign Deal to Continue Free Trade After Brexit

The United Kingdom and South Korea signed a trade continuity agreement Aug. 22 to ensure the countries trade under current terms after a potential no-deal Brexit on Oct. 31, the U.K. Department for International Trade said in a press release. Under the agreement, trade would “continue with minimal changes to tariffs and quotas when the UK leaves the EU,” according to a U.K. fact sheet on exporting to South Korea. The U.K. is already covered by a trade deal between the European Union and South Korea, but that could change when and if the U.K. leaves the EU with no transition deal in place.