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Minister of Economy and Industry Bogdan Bogdanov visits Seoul

Korean technology giant interested in joint projects with Bulgaria

Minister of Economy Bogdan Bogdanov (C) with representatives of a Korean corporation in South Korea.
Photo: Ministry of Economy and Industry

Minister of Economy and Industry Bogdan Bogdanov has discussed new areas of cooperation and implementing joint projects in Bulgaria with the Vice-President of a Korean technology giant, the Ministry of Economy and Industry said. The company is a world leader in innovation and a manufacturer of industrial electronic components, batteries, energy storage systems, etc, Bulgarian news agency BTA reported. 

This meeting in the company headquarters in South Korea focused on how Bulgaria could provide a supply chain for the company's new plant, train and prepare local experts, build infrastructure and provide financial incentives. 

The Ministry of Economy and Industry announced two days ago that Bulgaria and South Korea would sign a memorandum on bilateral trade and investment promotion. According to the ministry, in the first nine months of 2023, total trade with South Korea was worth $344.7 million, an increase of 27.2 per cent compared with the same period in 2022. Bulgarian exports grew by 64.7% and were worth almost USD 187 million.

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