World Economy

Brexit to Cut S. Korean Trade

Brexit to Cut S. Korean TradeBrexit to Cut S. Korean Trade

The “Leave” outcome in the UK is expected to further overshadow the prospects of the South Korean economy, which is already facing a slew of negative outlooks on employment, inflation and exports, analysts say, Yonhap reported. An exit from the European Union is likely to slow South Korean exports to its free trading partner, as South Korea and the UK, as well as the EU, will have to renegotiate the terms of their trade pacts and tariffs separately. However, South Korea will inevitably face volatility and see its growth further slowing on weakened sentiment both at home and abroad.