Bulgaria, South Korea eye collaboration in renewables, EV, defence

Bulgaria and South Korea intend to sign a memorandum on bilateral trade and investment promotion, with a possible occasion lending itself during the meeting of the Bulgarian-Korean Commission on Economic Cooperation, scheduled to take place in Bulgaria in 2024, the ministry said in a press release following a meeting of economy and industry minister Bogdan Bogdanov and South Korea's minister for trade Dukgeun Ahn in Seoul.

The two ministers also agreed to collaborate on carbon neutral industrial zones as well as to strengthen partnerships with Korean companies in industry, nuclear energy, hydrogen production and energy storage.

Bogdanov and representatives of the Bulgarian defence industry met with representatives of the Korea Defense Industry Association to discuss potential partnerships in the manufacture of satellites, drones and the development of high technology applications for the defence sector. The two sides also discussed the potential for a joint programme for production of NATO-standard ammunition, as well as opportunities for South Korean companies to attend Bulgaria's Hemus Defence, Antiterrorism and Security exhibition scheduled to be held in June 2024.