London and Seoul have inked a “continuity” trade agreement to replace a similar deal between South Korea and the EU after the UK leaves the bloc. The document is aimed at retaining trade benefits the countries currently enjoy.

The pact was signed by South Korean Trade Minister Yoo Myung-hee and British Secretary of State for International Trade Elizabeth Truss in London on Thursday. Yoo said that Seoul will ensure that “local companies maintain their trade and investment free from the uncertainties, including Brexit,” according to Yonhap.

The document is designed to protect annual trade flows between the two countries, with total trade worth £14.6 billion (US$17.7 billion) in 2018. (RT)