South Korean businesses to invest $26 bln into Britain


A view of the London skyline shows the City of London financial district, seen from St Paul’s Cathedral in London, Britain February 25, 2017. REUTERS/Neil Hall//File Photo Acquire Licensing Rights

LONDON, Nov 21 (Reuters) – South Korean businesses will invest 21 billion pounds ($26 billion) into Britain, the British government said on Tuesday, ahead of the launch of talks over a modernised trade deal between the two countries.

The new investment includes a 9.7 billion pound injection over ten years from South Korea’s Sovereign Wealth Fund into renewable energy and green infrastructure projects in Britain, Britain’s Department for Business and Trade said in a statement.

($1 = 0.8025 pounds)

Reporting by Sarah Young, Editing by Kylie MacLellan

Our Standards: The Thomson Reuters Trust Principles.

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