5 Numbers That Explain The UK–South Korea Trade Deal — From £2B At Risk To £400M In Services

The UK’s trade deal with South Korea shields exporters from tariffs and creates new opportunities for services and creative firms in this key Asian market. (Credit: Ox1997cow/Wikimedia Commons)

A new UK–South Korea trade deal is expected to prevent around £2 billion worth of British exports from facing impending tariff hikes. Over time, it could also add approximately £400 million annually to UK services exports into Korea. The agreement guarantees permanent tariff-free access across 98% of tariff lines with the world's 12th largest economy.

Here are five key numbers that explain what the deal means for UK businesses and workers — from exports that were weeks away from tariffs to new government contracts now open to British firms.