South Korean President Yoon Suk Yeol will meet British Prime Minister Rishi Sunak for talks on Wednesday and sign an agreement stepping up cooperation in defence, security and technology, Paralel.Az reports citing Reuters.

Yoon, on a state visit to London, and Sunak will sign a Downing Street Accord which will also involve them working together on enforcing U.N. sanctions on reclusive North Korea.

Ministers are launching talks over a new free trade agreement (FTA) and agreeing to a partnership on clean energy, while a range of investments have been announced, including plans for wind farm projects in South Korea from offshore wind firm Corio Generation and BP PLC totalling $1.16 billion.

A conservative, Yoon has cited a "polycrisis" of global challenges as a reason for seeking closer ties with like-minded partners, and welcomed talks to update the FTA, which is currently based on a 2011 deal with the European Union.

"During the negotiations, we will actively seek the views of business leaders from both countries, and set new norms on digital, supply chains and energy to create a level playing field," Yoon said in translated remarks to a business forum.

He added that co-operation with Britain on semiconductors, which South Korea is a major producer of, would help mitigate future supply chain crises.