UK and South Korea strike trade deal

The UK government has launched a taskforce aimed at breaking down barriers for women in technology, responding to calls for action to address the gender gap in the tech sector. This initiative is part of a broader strategy to enhance the country's capabilities in artificial intelligence (AI) and ensure that women are represented in this critical field.

Nissan has commenced production of its new electric car, the third generation of the Leaf, at its Sunderland plant, following an investment exceeding £450 million, including £300 million directly into the UK. This marks a significant milestone in the UK's automotive industry as it shifts away from petrol and diesel vehicles.

The UK has signed a new trade deal with South Korea, aiming to boost exports of cars, Scottish salmon, and Guinness, with an expected additional £400 million in trade on top of the existing £15 billion annual trade volume. This agreement replaces a previous arrangement and is part of the UK's broader strategy to enhance international trade relations.

Morrisons has announced a delay in its net zero carbon emission targets, pushing the goal back by 15 years to 2050. This makes it the first UK supermarket chain to take such a step, with the revised plan now encompassing the entire supply chain, including emissions from agriculture and land-use sources.

Rishi Sunak, during the Covid-19 pandemic inquiry, expressed concerns regarding the UK's financial stability in March 2020, particularly after the government implemented costly rescue measures to avert mass unemployment. He noted that the rising interest bill on government bonds was a source of acute stress, fearing that foreign investors might doubt the UK's ability to manage its finances compared to other nations in similar situations.

The Financial Conduct Authority (FCA) is considering a significant overhaul of mortgage rules to provide greater payment flexibility for individuals with variable incomes, such as freelancers and gig economy workers. This initiative aims to help these groups access home loans more easily, addressing the needs of underserved consumers in the UK housing market.

First-time buyers in the UK are now borrowing an average of £210,800 for their mortgages, marking a record high as of September 2025. This increase is attributed to rising wages and more lenient affordability tests, enabling buyers to access homes that were previously out of reach.

South Korea's financial regulator has announced an extension of its bond market stabilization programs, aimed at supporting the country's financial stability amid ongoing economic challenges. This decision reflects the regulator's commitment to maintaining market confidence and ensuring liquidity in the bond sector.