An agreement between Bulgarian and Korean energy ministries will promote bilateral relations

An agreement between Bulgarian and Korean energy ministries will promote bilateral relations download this image

The Ministry of Energy in Bulgaria and the Ministry of Trade, Industry and Energy in the Republic of Korea will prepare and sign a cooperation agreement to promote bilateral energy relations. This was confirmed by Energy Minister Vladimir Malinov and the Korean Ambassador to Bulgaria H.E. Jongin Bae.

“Bulgaria is very interested in deepening its energy cooperation with the Republic of Korea, where a huge potential for development exists,” Minister Malinov said. In his words, enhancing bilateral relations based on the Asian country's high technological development and Bulgarian experience and traditions would provide excellent prospects for mutual exchange of know-how and expertise.

Nuclear energy is only one of the possible areas for greater cooperation, which could also include RES development, storage systems and natural gas, Minister Malinov and Ambassador Jongin agreed.

It was recalled that, by a Decision of the National Assembly of 23 February 2024, the South Korean company Hyundai Engineering and Construction was selected for negotiations about a potential constructor of units 7 and 8 of Kozloduy Nuclear Power Plant, with U.S. Westinghouse AP- 1000 technology.

“This project is one of the key energy priorities of the current government. It is of strategic importance both for the energy security and the successful implementation of decarbonization goals,“ Minister Malinov stressed.

A future cooperation on the LNG market was another topic discussed between Minister Malinov and Ambassador Jongin. The Republic of Korea is one of the largest importers of this energy product in the world. The Bulgarian side has a serious interest in joint purchases that can provide further diversification and energy security, Minister Malinov informed.

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