The Ministry of Foreign Affairs announced that Park Jong-han, the Economic Diplomacy Coordinator, held the "3rd Korea-Bulgaria Economic Joint Committee" on November 2 in Sofia with Krasimir Yakimov, Deputy Minister of the Ministry of Economy and Industry of Bulgaria.
The two sides reviewed the current status of economic cooperation as part of their comprehensive future-oriented partnership established in 2015 and discussed ways to expand cooperation in areas of mutual interest, including trade and investment, defense industry, nuclear energy, transportation infrastructure, and science and technology.
The Korean delegation acknowledged Bulgaria's efforts to improve its foreign investment environment and urged continued interest and cooperation from Bulgaria to facilitate smoother business operations for Korean companies entering the market.
Both parties agreed that the successful advancement of the Kozloduy new nuclear power plant construction project, a strategic cooperation initiative between the two countries, would serve as a significant milestone in their economic collaboration. Hyundai Engineering & Construction is participating in the construction of two new reactors (Units 7 and 8) at the Kozloduy plant in a consortium with the American company Westinghouse.
Additionally, the two sides sought mutually beneficial cooperation opportunities in Bulgaria's defense modernization and transportation network upgrades, while identifying potential for collaboration in science and technology and digital sectors. The Korean side also requested Bulgaria's attention and cooperation to ensure that Korea, as a trusted partner, is not excluded from regional market requirements during the EU's economic legislative processes, including the Industrial Acceleration Act.
Following the Economic Joint Committee, Park met with Alexander Pulev, Deputy Prime Minister and Minister of Economy and Industry, and Kristo Polendakov, Deputy Minister of Foreign Affairs, to discuss bilateral relations, practical cooperation in defense and nuclear energy, and regional issues.
* This article has been translated by AI.
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