South Korea and the UK have set up a special communication channel as the deadline for Britain to leave the European Union edges ever closer.<br />There are concerns in Seoul that if the UK leaves the EU in a "no deal" Brexit, it could have a huge impact on the tariff benefits currently enjoyed by South Korea.<br />Lee Seung-jae reports. <br />Earlier this month,... Britain's House of Commons voted 432 to 202 against Prime Minister Theresa May's plan for taking the UK out of the EU.<br />If the country leaves the EU with no deal on the March 29th deadline,... South Korea could face a significant impact on tariffs under its FTA with the EU.<br />South Korea's Ministry of Foreign Affairs revealed on Wednesday,... that a Korea-UK Director-General Meeting was held in London to discuss ways to cooperate on bilateral relations.<br />The two sides discussed ways to minimize the negative impact of Brexit on economic cooperation, trade and investment between the two countries.<br />Britain promised to closely communicate and share its progress with South Korea,... by setting up a 'hotline'.<br />Through the communication channel,... Britain believes it will be able to promote a South Korea-UK FTA in a swift and mutually beneficial way.<br />In 2017, South Korea posted a record high trade volume with Britain at 14-point-four billion dollars.<br />Lee Seung-jae, Arirang News. <br />
