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S. Korea calls for quick negotiations between EU and Britain

All News 21:39 July 23, 2016

CHENGDU, China, July 23 (Yonhap) -- South Korea's finance minister on Saturday called for quick negotiations between the European Union and Great Britain over the British exit from the world's biggest economic bloc, South Korean officials said.

Finance Minister Yoo Il-ho made the case for quick negotiations to reduce uncertainties stemming from a Brexit and minimize the negative effects on other countries.

He made the comments during talks with EU commissioner for economic affairs Pierre Moscovici on the sidelines of the Group of 20 finance ministers and central bank governors meeting in the southwestern Chinese city of Chengdu.

Last month, Britons supported the proposal to leave the EU by a small margin. The exit is expected to take at least two years.

Yoo also said South Korea is pushing for a free trade deal with Britain while seeking mid-to-long-term measures over a Brexit, according to the South Korean officials. The free trade deal between South Korea and the EU went into effect in 2011.

Yoo and Moscovici shared the view that South Korea and the EU should coordinate their policies during the EU's negotiations with Britain over a Brexit.

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