Korea, Bulgaria reaffirm economic ties, nuclear cooperation

Korea and Bulgaria have reaffirmed their commitment to cooperation on a new nuclear power plant project in Bulgaria and discussed ways to expand bilateral economic ties at a joint committee meeting, Seoul’s foreign ministry said Tuesday.

The third meeting of the Korea-Bulgaria Joint Economic Committee was held in Sofia on Monday (local time), co-chaired by Park Jong-han, deputy minister for economic affairs, and Krasimir Yakimov, the Bulgarian deputy economic minister, according to the ministry.

The meeting marked the first gathering of the committee in seven years, following the previous session in Seoul in September 2019. The inaugural meeting was held in Sofia in September 2015.

During the latest talks, the two sides reviewed the progress of bilateral economic cooperation and discussed ways to expand collaboration in trade and investment, defense, nuclear energy and various other fields.

They agreed that the successful implementation of Bulgaria’s Kozloduy nuclear power plant project would mark an important milestone in bilateral economic cooperation and pledged to work closely to ensure progress.

Korean major builder Hyundai Engineering & Construction Co. is participating in the project to build two new reactors as part of a consortium with U.S. energy firm Westinghouse Electric Co.

The two sides also discussed opportunities to expand mutually beneficial cooperation in defense, transportation, science and technology, and digital industries, the ministry said.