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[1/4]President of South Korea Yoon Suk Yeol delivers the opening speech at the Shaping the Future: UK-Korea Business Forum, on day two of the state visit, at Mansion House, central London, Britain November 22, 2023. Aaron Chown/Pool via REUTERS Acquire Licensing Rights
LONDON, Nov 22 (Reuters) – South Korean President Yoon Suk Yeol will meet British Prime Minister Rishi Sunak for talks on Wednesday and sign an agreement stepping up cooperation in defence, security and technology.
Yoon, on a state visit to London, and Sunak will sign a Downing Street Accord which will also involve them working together on enforcing U.N. sanctions on reclusive North Korea.
Ministers are launching talks over a new free trade agreement (FTA) and agreeing to a partnership on clean energy, while a range of investments have been announced, including plans for wind farm projects in South Korea from offshore wind firm Corio Generation and BP PLC (BP.L) totalling $1.16 billion.
A conservative, Yoon has cited a « polycrisis » of global challenges as a reason for seeking closer ties with like-minded partners, and welcomed talks to update the FTA, which is currently based on a 2011 deal with the European Union.
« During the negotiations, we will actively seek the views of business leaders from both countries, and set new norms on digital, supply chains and energy to create a level playing field, » Yoon said in translated remarks to a business forum.
He added that co-operation with Britain on semiconductors, which South Korea is a major producer of, would help mitigate future supply chain crises.
EVER CLOSER LINKS
Britain rolled out the red carpet for Yoon on Tuesday, with a guard of honour and a coach ride with King Charles to Buckingham Palace, before an opulent State Banquet.
On Wednesday, the ceremonial Changing of the Guard at Buckingham Palace saw the military band play K-pop hits, and at the banquet Charles also displayed his apparent familiarity with the pop genre.
Charles presented members of the girl group BLACKPINK with honorary Member of the Order of the British Empire medals a day after he had praised their environmental work.
« I can only admire how they can prioritise these vital issues, as well as being global superstars, » he said, in a wide-ranging speech where he paid tribute to the countries’ cultural and historic links, and those who fought in the 1950-53 Korean War.
South Korea on Wednesday suspended part of a 2018 military agreement with North Korea after it defied warnings from the United States and launched a spy satellite.
The suspension of a clause in the agreement will see South Korea step up military surveillance along the heavily fortified border with the North.
Reporting by Alistair Smout in London, additional reporting by Joyce Lee in Seoul, Farouq Suleiman and Hanna Rantala in London, editing by Nick Macfie, Alexandra Hudson
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