By Diplomacy Journal Lee Jon-young
President Lee Jae-myung held a summit with President Recep Tayyip Erdogan of Turkiye on Nov. 24. A nuclear power cooperation between Korea and Turkiye was included at the Memorandum of Understanding (MOU) signed at the South Korea-Turkey summit, the Office of the President announced.
The scope of cooperation included reactor technology, site assessment, regulations and licensing, financing and business models, and nuclear power plant project implementation.
To this end, the two sides agreed to establish a joint working group, share information, experience, know-how, and knowledge, and promote mutual visits by expert personnel.
The Office of the President assessed that this MOU established the foundation for South Korea's participation in Turkey's Sinop 2 Nuclear Power Plant project from the initial stages, including site assessment, and laid the groundwork for future project bids.
The Sinop Nuclear Power Plant is a large-scale nuclear power plant planned for construction in the Sinop region on the Black Sea coast. Korea Electric Power Corporation (KEPCO) officially confirmed its participation by submitting a preliminary bid in 2023.
Furthermore, the Turkish Road Authority and the Korea Expressway Corporation and the Korea Overseas Infrastructure and Urban Development Corporation (KIND) signed an MOU for cooperation in road infrastructure. The MOU aims to strengthen cooperation to jointly identify, promote, and develop public-private partnership (PPP) road projects among Turkiye, Korea, and third countries.
The Office of the President anticipates that this will encourage the participation of Korean companies in large-scale road PPP projects commissioned by the Turkish Road Authority.
Furthermore, by leveraging the PPP road project experience of both countries and Turkiye's network at the crossroads of Europe, the two countries anticipate joint advancement into road PPP projects in third countries, including the Middle East and Eurasia.
The two countries also signed an MOU on veterans' affairs. The two governments agreed to honor Turkish veterans who fought in the Korean War and promote exchanges between veterans' organizations and their descendants.
