The U.K. and South Korea are set to begin regular trade talks, with luxury brands a particularly promising topic, as Britain prepares to expand its commercial reach once it has left the European Union.
A formal working group of ministers from the two countries will meet as many as four times a year to discuss removing barriers to commerce and prospects for "future, ambitious trade opportunities" after the U.K. exits the EU, the British government said in an statement on Sunday.
Prime Minister Theresa May has promised to make the U.K. a leader in liberalizing trade around the world after Brexit. Yet Britain is unable to strike its own free-trade deals — or even being formal negotiations — while still a member of the EU.