For any galvanic cell, the overall cell reaction at equilibrium can be represented as,
Reactants \(\rightleftharpoons\) Products.
[For example for Daniell cell,

The equilibrium constant, K for the reversible reaction will be, \(K = \frac{\text[Products]}{\text[Reactants]}\)

The equilibrium constant is related to the standard free energy change ΔG0, as follows,
ΔG0 = -RTlnK
If \(E^0_{cell}\) is the standard cell potential (or emf) of the galvanic cell, then ΔG0 \(=-nFE^0_{cell}\)
By comparing above equations,

This is a relation between equilibrium constant and \(E^0_{cell}.\)