Korea-Turkiye adopts 4 MOUs to strengthen cooperation in nuclear power plants, key minerals, etc.

Establishing an energy cooperation system... An MOU on scientific and technological innovation such as AI and biotechnology was also signed.

(Seoul = Yonhap News) Reporter Seol Seung-eun = Korea and Turkey adopted four memorandums of understanding (MOU) to expand cooperation in energy and key minerals on the 3rd, following the summit meeting between President Lee Jae-myung and President Recep Tayyip Erdogan, who visited Korea as a state guest.

First, Minister of Climate, Energy and Environment Kim Seong-hwan and Minister of Energy and Natural Resources Turkiye Alfaslan Bayraktar signed an energy cooperation MOU aimed at establishing a cooperation system in the energy sector and strengthening strategic energy partnerships.

This includes strengthening comprehensive cooperation to accelerate energy transition, including joint research, expanding policy and technology exchange in the energy field such as renewable energy, power grid, and nuclear power plants, and discovering specific cooperation projects through the establishment of an energy transition forum.

Hwang Ki-yeon, President of the Export-Import Bank of Korea, and Turkiye Nejati, President of Yamatsu Nuclear Power Corporation, signed an MOU on financial cooperation for nuclear power plant projects.

The purpose is to establish a strategic information exchange system between the two organizations regarding projects in which Korean companies participate, and to strengthen partnerships to review the feasibility of financial support and identify potential financial support opportunities.

In relation to this, the Blue House expected that it would be able to increase the possibility of Korean companies winning orders for the Turkiye nuclear power plant by preemptively establishing a financial support cooperation system.

An MOU on cooperation in natural resources such as rare earths and mining was also adopted.

The MOU, signed by Minister of Trade, Industry and Energy Kim Jeong-kwan and Minister of Trade, Industry and Energy, and Turkiye Bayraktar, includes the sharing of information on key minerals and rare earth resources, the establishment of strategic partnerships in the field of rare earth advanced materials, and the promotion of cooperation in the field of digitalization of mine operations.

Through this, the Blue House predicted that it would be possible to establish a channel for cooperation in the resources and mining sectors between the two governments and establish a foundation for expanding technology and investment cooperation related to the diversification of the core mineral supply chain in the future.

In addition, Deputy Prime Minister and Minister of Science and ICT Bae Kyeong-hoon and Minister of Foreign Affairs Turkiye Hakan Fidan signed an MOU on science, technology and innovation cooperation to increase cooperation through joint research and development (R&D) and exchange of human resources and information in six major fields, including artificial intelligence (AI), bio, advanced communications, and advanced materials.