South Korea, Türkiye Sign Five Strategic MOUs
South Korea and Türkiye are set to significantly broaden the scope of cooperation across future strategic industries, including nuclear power and critical minerals. On Nov, 3, the two countries signed memorandums of understanding in five areas, including energy, resources and investment, on the occa
South Korea and Türkiye have agreed to deepen their strategic cooperation across various industries, including nuclear power, critical minerals, and energy, during a summit between President Lee Jae-myung and Turkish President Recep Tayyip Erdoğan. The nations signed five Memorandums of Understanding (MOUs) focusing on energy, resources, investment, science, technology, and innovation.
The most notable MOU is the one on financial cooperation for nuclear power plant projects, which establishes an information-sharing system between Korean companies and Turkish Nuclear Energy Inc. This development aims to facilitate the construction of a second nuclear power plant in Türkiye's Sinop region. Additionally, the two countries signed an MOU on natural resources and mining cooperation, focusing on strengthening resource security through shared project information and a strategic partnership in advanced rare earth materials.
The agreement also includes expanding cooperation in digitalizing mine operations and joint research and development in six key fields such as artificial intelligence and bio. To bolster their economic ties, South Korea and Türkiye plan to elevate the Korea-Türkiye Free Trade Agreement Joint Committee to the ministerial level, aiming to address trade issues more swiftly and decisively.
The comprehensive cooperation framework is expected to support resource security, advanced industries, and exports of large-scale infrastructure.
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