South Korean businesses to invest $26 billion into Britain

LONDON (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)