LONDON, November 21. /TASS /. The UK and South Korea will conclude an agreement this week on deepening cooperation on defense and security and fostering ties between the two countries.

According to a statement published by the press service of British Prime Minister Rishi Sunak, the document will be signed on Wednesday during a three-day state visit by South Korean President Yoon Suk Yeol.

"Long term, global partnerships are vital to our prosperity and security, both today and in the future. As two nations focused on innovation, harnessing new technologies and defending the international rules-based order, the UK and Republic of Korea are natural partners," the statement quoted Sunak as saying.

"Through our new Downing Street Accord, we will drive investment, boost trade and build a friendship that not only supports global stability, but protects our interests and lasts the test of time," the UK prime minister said.

It is stressed that the agreement "will be underpinned by new defense and cyber partnerships, which will strengthen defense industry and intelligence agency ties."

The press service also reports that the South Korean president’s "visit brings ·21 billion ($26.3 bln - TASS) investment into the UK with South Korean firms backing renewables and infrastructure projects across the country.".