Upgraded Free Trade Agreement with the Republic of Korea: Round Five of Negotiations

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HLWS862

Upgraded Free Trade Agreement with the Republic of KoreaRound Five of Negotiations

Statement made on 21 July 2025

Statement UIN HLWS862

Statement made by

Baroness Jones of Whitchurch

Parliamentary Under Secretary

Labour

Life peer

Lords

Statement

My Rt Hon Friend the Minister for Trade Policy and Economic Security (Douglas Alexander MP) has today made the following statement.
The fifth round of negotiations on an upgraded Free Trade Agreement (FTA) with the Republic of Korea (RoK) took place in Seoul between 7 and 11 July 2025.
Total trade between the UK and RoK was worth £15.4 billion in 2024. An upgraded FTA is intended to support further growth in this trade and strengthen our broader relationship with RoK.
An upgraded UK-RoK FTA will help secure and future-proof current goods market access. It will update the agreement in key areas where trade policy has progressed in recent years, including digital and services trade. It will also support cooperation in broader parts of the UK-RoK strategic relationship, with commitments in areas such as supply chains and the environment.
During this round, negotiators made good progress in several areas, including but not limited to:
Rules of origin
Constructive discussions were held covering both the main chapter text and product specific rules (PSRs) for a range of sectors including automotives, textiles and apparel, and food and drink.
Digital trade
A new ambitious digital trade chapter is a key part of these negotiations. Sides held further positive discussions during the round on a range of areas including: trade digitalisation and business safeguards.
Services
The two sides continue to hold constructive discussions on further support for trade in services. This included financial services, professional and business services and rules relating to the development of domestic regulation.
Other Areas
Positive discussions were held across a range of other areas of the FTA, including Sanitary and Phytosanitary (SPS) Measures, and Trade and Sustainable Development (TSD).
The Government will only ever sign a trade agreement which aligns with the UK’s national interests, upholding our high standards across a range of sectors, including protections for the national health service.
The UK and RoK expect to hold further discussions in the Autumn. The Government will continue to work towards delivering outcomes in the FTA that secure economic growth for the UK and will update Parliament on the progress of discussions with RoK as they continue to develop.

Statement from

Department for Business and Trade

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This statement has also been made in the House of Commons

Department for Business and Trade

Upgraded Free Trade Agreement with the Republic of KoreaRound Five of Negotiations

Mr Douglas Alexander

Minister of State (Minister for Trade Policy and Economic Security)

Labour, Lothian East

Statement made 21 July 2025

HCWS860

Commons