For 2024, trade turnover amounted to nearly half a billion US dollars.
The Minister of Economy and Industry, Peter Dilov, held a meeting with H.E. Dong-bae Kim, Ambassador of the Republic of Korea to Bulgaria. The two discussed bilateral trade and economic cooperation, as well asways to boost investment between the two countries.
“Korea is a promising economic partner for Bulgaria thanks to its competitive economy and innovation development,” Minister Dilov noted.
Both sides agreed that there is significant potential for increasing trade exchange and cooperation across various sectors. The total trade exchange with the Republic of Korea for 2024 amounts to nearly half a billion US dollars. Among the mechanisms for deepening economic cooperation, Minister Dilov and the Korean Ambassador highlighted the sessions of the Bulgarian-Korean Intergovernmental Commission, which provide an platform for discussing future steps and prospects.
The two indetified bilateral investment cooperation particularly promising. Among the sectors with strong potential to attract Korean investment, Minister Dilov cited automotive and mechanical engineering, research and development, information and communication technologies, and high-tech manufacturing.
The Minister of Economy also remarked that the presence of Korean companies in Bulgaria’s industrial parks would position them on the European map and create opportunities for collaboration in research and development. “Our country is establishing itself as a key innovation hub, and we will continue to promote innovative, high-value added, and export-oriented industries,” he added.
The Korean Ambassador emphasised that this year marks 35th anniversary of the establishment of diplomatic relations between Bulgaria and the Republic of Korea – an occasion that opens up new opportunities for advancing cooperation in various fields.
Also attending the meeting were the Deputy Minister of Economy and Industry, Doncho Barbalov, and the Head of the Minister of Economy’s Office, Tanya Atanasova.