Turkey has conducted extensive preliminary feasibility studies with Korea Electric Power Corp. and is examining the Black Sea project’s technical and economic conditions, Erdogan told Yonhap News Agency in an interview published Monday.
“We attach considerable importance to the negotiations we are holding with Korea on this topic. We are well aware of our Korean friends’ experience with nuclear energy,” Erdogan said in an interview with South Korea’s Yonhap media outlet.
Financing options, electricity costs and the project’s contribution to Turkey’s economy will factor into Ankara’s selection of a partner. No timetable for a decision was given.
Seoul and Ankara signed a memorandum of understanding on nuclear energy cooperation during Lee’s state visit to Turkey last year. The agreement covers reactor technology, site assessment, licensing, financing and business models.
Erdogan arrived in Seoul on Monday for a three-day state visit, his first to South Korea since 2018.
Beyond nuclear energy, Erdogan identified defense as another area where cooperation could grow. He welcomed South Korean interest in Turkey’s PD170 turbodiesel aircraft engine and pointed to unmanned aerial vehicles, engine technologies and electronic systems as opportunities for further collaboration. Semiconductors, artificial intelligence and robotics were also identified as potential areas for closer ties.
Erdogan called for increased South Korean investment and joint production in Turkey as the countries seek to raise bilateral trade to $15 billion and address the current trade imbalance in South Korea’s favor.
Transport and logistics infrastructure could provide another area for investment. Citing risks to global energy markets and trade routes, including through the Strait of Hormuz, Erdogan promoted projects connecting Asia and Europe, including plans to revive the historic Hejaz Railway.
“The current crisis has once again demonstrated just how vital it is to develop reliable alternative routes for international trade,” he said.
