Minister Malinov: The Republic of Korea is one of our most promising partners from East Asia
Vladimir Malinov and his Korean colleague Ahn Dukgeun signed a Memorandum of Cooperation in the field of energy
"The Republic of Korea is one of our most promising partners from East Asia in the areas of solutions to tackle climate change, renewable energy sources and energy efficiency, nuclear power, new energy technologies and others. Deepening this cooperation in the interest of both countries is of utmost importance for us in regard to achieving the goals of carbon neutrality through new energy technologies." This is what the Minister of Energy Vladimir Malinov said during his meeting with the Minister of Trade, Industry and Energy of the Republic of Korea Ahn Dukgeun. They signed a Memorandum of Cooperation in the field of energy, the purpose of which is to create a framework for deepening bilateral relations in the sector. The document will promote cooperation between companies from the two countries in the implementation of new investments in the production of energy from renewable sources, as well as in the construction of energy storage facilities. Exchange of knowledge and good practices between companies and institutions in the field of natural gas, cooperation in the global liquefied natural gas market, and others, are also envisaged. Deepening the mutual relations at the different stages of the nuclear fuel cycle, including the construction of new nuclear facilities and the management of spent nuclear fuel and radioactive waste, is also envisaged in the document.
The two ministers agreed that the signing of the memorandum marks a new step in bilateral relations, which will continue to develop based on shared values, similar positions and mutual benefit. Minister Dukgeun accepted the invitation of his colleague Malinov to visit Bulgaria soon. A business forum will be organised between companies from the two countries as part of the visit.
During his visit to Seoul, Minister Malinov also spoke with the country's Deputy Minister for Multilateral and Global Affairs at the Ministry of Foreign Affairs Kweon Ki-hwan. "For our country, the attraction of Korean investments and technologies, as well as the increase of Bulgarian exports to the Republic of Korea, are among the main priorities," said Minister Malinov. In the first 9 months of 2023, the total trade with the Republic of Korea was worth USD 344.7 million, which is an increase of 27.2% compared to the same period of 2022. Minister Malinov noted that promising areas of cooperation are energy, industry, information technology, combating climate change and others. The Minister of Energy pointed out Bulgaria's choice of Hyundai Engineering and Construction for the construction of the 7th and 8th units of the Kozloduy NPP as another opportunity to strengthen bilateral relations.
