South Korea on Friday held an interagency government meeting on Britain's planned exit from the European Union (EU) after leaders of the regional bloc agreed to extend the deadline for withdrawal.

Officials from the ministries of foreign affairs, finance and trade, as well as the Korea Customs Service, attended the meeting to discuss how to minimize any negative ramifications that could arise should Britain leave the EU.

British Prime Minister Theresa May holds a press conference on March 22 at the end of the first day of an EU summit focused on Brexit, in Brussels. (AFP)

"(The government) has been providing information and advisory service to our citizens and businesses through its embassy in Britain and its EU mission," Seoul's foreign ministry said in a statement.

"By strengthening cooperation with relevant ministries, (the government) will ensure that support can be given in a timely manner (if need be)," it added.

Some 100 South Korean businesses operate in Britain with an eye on expanding their footholds across Europe. Britain's departure from the EU could increase administrative and logistical hurdles for these firms, observers predicted.

(Yonhap)