The UK has been negotiating on a free trade deal with South Korea are reaching new stages, following close to five years of negotiations. Here’s a rundown of what’s happening…

From 10 to 21 March 2025, the UK and South Korea began the fourth round of negotiations on a new free trade agreement (FTA). It aims to strengthen the £15.3 billion trade relationship between the UK and South Korea.

Free trade agreements allow countries to trade goods without facing tariffs, or other restrictions. 

Negotiations on a new free trade agreement between the UK and South Korea could offer British beauty brands as well as South Korean brands a unique opportunity to enter rapidly growing beauty markets.

In South Korea, like in the UK, trends are often popularised online by influencers and beauty enthusiasts on apps like TikTok and Instagram. That’s why the Digital Trade chapter of this free trade agreement – which sets out data agreements –  is particularly noteworthy for beauty businesses that are active in social and ecommerce.

In a rapidly changing trade environment, trade agreements are often a lifeline for brands and businesses. Moreover, the beauty industry is a highly complex one, in which ingredients, products, and packaging are often governed by differing regulations. Therefore, potential free trade agreements, especially with burgeoning markets like that of South Korea, are essential for healthy trade landscapes. 

The three main objectives of the current UK & South Korea FTA negotiations are:

1. Product specific rules and future-proofing of supply chains.
2. A new Digital Trade chapter that includes data, trade digitisation and business safeguards.
3. Further UK-South Korea collaboration on environment, trade and gender equality, and supply chains.

For beauty brands specifically, it’s worth keeping an eye on negotiations around product specific rules, supply chains, and environmental policy. 

Negotiations on a free trade agreement between the UK and South Korea have been ongoing since the UK exited the European Union in early 2020. Previously, trade between the two states had been governed by the European Union-South Korea Free Trade Agreement.

Trade agreement negotiations are ongoing and a fifth round of talks is expected to take place in Seoul this summer. 

Click here to read more about UK-South Korea FTA negotiations.

To learn more about trading in South Korea, visit this guidance from the Department for Business and Trade. The British Beauty Council also provides advice for brands trading overseas via its Trade Hub, click here to learn more.