Finance Minister Yoo Il-ho met with his British counterpart on Friday (local time) in Washington, D.C., to discuss ways to expand ties between the two countries after London's exit from the European Union (EU).

Yoo is on a U.S. trip to attend the conferences of the World Bank and the International Monetary Fund, as well as the G20 Finance Ministers and Central Bank Governors meetings.

During his visit, Yoo and his British counterpart Philip Hammond discussed post-Brexit issues, especially as the change will also impact the free-trade agreement between South Korea and the EU.

Yoo said Britain still remains an important trade partner of South Korea, adding the two countries need to implement close economic ties and continue trade after Brexit.

Hammond echoed the view, adding the two countries also need to start talks on a separate free-trade agreement. (Yonhap)