Boost for Global Britain as UK exporters see £620 million surge

A huge demand for British products and services in South Korea is boosting UK companies exports to the east Asian country.

International trade secretary Anne-Marie Trevelyan said that British firms saw a £620m surge in exports to South Korea last year, a jump of nine per cent.

Trade between the UK and South Korea was worth just over £13bn between January and June 2021, with Britain exporting around £2bn more to the profitable Asian market than it imported.

South Korea, the ninth largest economy in the world, is firmly on the British government’s post-Brexit radar.

Trevelyan said: “We are helping businesses capitalise on the huge demand for British goods and services in South Korea,” 

she added:  “We have already negotiated the world’s most ambitious digital trade deal with Singapore this year, and we’re on track to join the CPTPP next year, a huge free trade area with a combined GDP of £8.4 trillion.’’