Foreign Minister Yun Byung-se said Friday that his ministry will consider a free trade agreement with Britain and other various measures in cooperation with the trade ministry in response to the UK decision to leave the European Union.

Minister Yun made the remark during a plenary session of the National Assembly Foreign Affairs and Unification Committee when Saenuri Party lawmaker Won Yoo-chul asked about the urgency in signing an FTA with Britain.

Yun cited expert opinions at home and overseas that South Korea's trade volume with the UK is relatively smaller compared to the United States and therefore risks involved are also lower, or at least a direct impact is limited.

The minister, however, acknowledged that Britain's exit from the EU has global repercussions on the world economy, and that South Korea is not free from it. 

Britons voted to exit the EU in a landmark referendum held Thursday.