Minister Alparslan Bayraktar travelled to Seoul to participate in the 9th Türkiye-South Korea Joint Economic Commission (JEC) Meeting, focusing on strengthening bilateral economic ties and developing joint projects in strategic sectors.
High-Level Bilateral Meetings in Seoul
During his visit, Minister Bayraktar co-chaired the JEC meeting with South Korea’s Deputy Prime Minister and Minister of Economy and Finance, Koo Yun-cheol. He also met with key South Korean officials, including Kim Sungwhan, Minister of Climate, Energy and Environment, and Kim Jung-Kwan, Minister of Trade, Industry and Energy. Their discussions focused on expanding energy cooperation and enhancing collaboration on nuclear energy and critical minerals.
Emphasis on People-to-People Ties
At the opening of the JEC meeting, Bayraktar underlined that Türkiye-South Korea relations are founded not only on diplomacy and trade, but also on deep historical and humanitarian connections.
Trade, Investment, and Strategic Sectors
Minister Bayraktar reported that bilateral trade volume has reached $11 billion by 2025, with South Korean investments in Turkey totaling approximately $1.9 billion. He highlighted Turkey’s advantages for Korean investors, including a highly skilled workforce, a dynamic domestic market, and strategic access to the EU, Middle East, North Africa, and Central Asia.
Priority Areas for Joint Projects
Bayraktar stressed the importance placed on developing joint projects in nuclear energy, artificial intelligence, semiconductors, battery technologies, critical minerals, innovation, and renewable energy. After the meeting, both countries signed the official protocol of the 9th JEC meeting.
Focus on Energy and Industrial Partnerships
In a roundtable meeting with representatives of major South Korean energy and mining companies, Bayraktar outlined Turkey’s vision for energy transformation. He emphasized the country’s ambitious goal to achieve 20 GW nuclear capacity by 2050 and noted ongoing construction of four reactors, currently led by a Russian company, while highlighting ongoing intensive discussions with KEPCO for future projects. He also expressed keen interest in Small Modular Reactors (SMR) as part of Türkiye’s energy transition.
Collaborative Opportunities in Third Countries
Bayraktar invited South Korean and Turkish firms to form partnerships in the Middle East, Africa, and Central Asia, aiming to leverage complementary strengths and cooperate in diverse markets.
Commitment to Concrete Cooperation
With South Korean ministers, Bayraktar discussed strengthening technical cooperation in nuclear technologies, boosting engineering capacities, and increasing local industry involvement. Both sides agreed to prioritize supply diversity and explore joint ventures in third countries. The meetings also addressed options for concrete collaboration in critical minerals and steps towards achieving net-zero emissions targets by 2053.
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