The Minister of Economy held meetings in Seoul with the Deputy Ministers of Trade and Foreign Affairs of the Republic of Korea
Opportunities for expanding trade and economic relations between Bulgaria and the Republic of Korea, as well as specific initiatives to promote investment and business contacts, were discussed in Seoul by Minister of Economy and Industry Peter Dilov and Mr Jeong-won Park, Deputy Minister of Trade, Industry and Energy of the Republic of Korea.
Minister Dilov emphasised that Bulgaria attaches great importance to its trade and economic relations with South Korea, viewing it as a key partner with long-term potential in the region.
During the meeting, it was noted that bilateral trade between Bulgaria and the Republic of Korea shows promising growth, with significant potential for diversification and expansion.
Minister Dilov assured that the Bulgarian economy offers a favourable environment and strong potential in high value-added sectors.
He stressed Bulgaria’s ambition to attract more Korean investment in the automotive components industry, high technology, research and development, infrastructure projects, energy, and the food industry.
Both sides expressed their readiness to intensify the active dialogue and to support the development of contacts between Bulgarian and Korean companies with the aim of expanding economic and investment partnerships. “The organisation of joint business forums would contribute to the activation of bilateral cooperation,” Minister Dilov pointed out.
As part of his working visit to the Republic of Korea, the Minister also met with Mr Hee-sang Kim, Deputy Minister for Economic Affairs at the Ministry of Foreign Affairs. During the discussion, it was noted that 2025 marks the 35th anniversary of the establishment of diplomatic relations between the two countries, which is a significant milestone that opens new opportunities for developing the partnership.
For his part, Deputy Minister Kim called for Bulgaria’s active support for the successful implementation of the new project for the construction of Units 7 and 8 of the Kozloduy Nuclear Power Plant, in which Korean companies are involved. He also expressed hope that Korean companies will take part in Bulgaria’s defence modernisation projects, leading to mutually beneficial cooperation in the defence industry.
The Korean Deputy Minister praised Bulgaria’s efforts toward full integration within the European Union (EU), including its recent accession to the Schengen Area and its confirmed entry into the euro area in January next year. He expressed hope for stronger cooperation with Bulgaria as a key partner of the Republic of Korea within the EU.
In Seoul, Minister Dilov also met with Mr Hanu Lee, Chief Executive Officer of Hyundai Engineering and Construction, to discuss the company’s participation in strategic projects in Bulgaria.
“Hyundai is an important partner in identifying solutions related to renewable energy sources and energy efficiency, and our country relies on the company’s expertise in these areas,” Minister Dilov underlined.
The meetings in the Korean capital were also attended by Mr Petar Kraichev, Ambassador of Bulgaria to the Republic of Korea, and Mr Iliya Dekov, Head of the Bulgarian Trade and Economic Affairs Office (TEAO) in Seoul.
At the invitation of the Government of the Republic of Korea, Minister Peter Dilov will also attend the Seoul International Aerospace and Defence Exhibition (Seoul ADEX 2025) – an event of exceptional global importance for the defence and aviation industries, combining professional expertise, innovation, and advanced space and defence technologies.