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he President in Seoul: Bulgaria May Become the Hub of Korean Investments in the Region and in Europe

Bulgaria and South Korea raised the level of their cooperation today, whereby they opened a new chapter and a new stage in the development of the bilateral relations, which have a 25-year-old history. This is what President Rosen Plevneliev told journalists in Seoul on the occasion of the joint declaration on a comprehensive and directed to the future partnership signed earlier today by the presidents of Bulgaria and South Korea. The President summarized the results of the talks held with President Park Geun-hye and representatives of the Korean government.

In the education and science sector the Head of State said that the Samsung company will provide the funding for a program for intelligent interactive study worth more than 6 million US dollars, which will cover Bulgarian universities and 84 schools. The Bulgarian Ministry of Education and Science received as donation from the software company MIDAS IT computer programs for simulating and modeling different technical and biological systems. One of the biggest infrastructure sites in the world is built with these software products and they are actively used in the healthcare and robotics sector.    

The President highlighted the Memorandum on understanding in the defense sector today and said that it is a sign of the greater trust between the two countries. The KIA company has an interest in producing armored cars together with Bulgarian partners and negotiations are due to be held, Rosen Plevneliev said. Representatives of the company are expected to visit Bulgaria and to brief the Bulgarian authorities on the project.

Korea also shows an interest in selling Bulgarian yoghurt and wine on the local market, the President said and called on the Bulgarian business to be more active and on the Tourism Ministry to develop special packages for Korean tourists.

In the Energy sector, President Rosen Plevneliev discussed with the Korean side the opportunities for Korean companies to take part in building a liquefied gas terminal together with Greece. The President invited the Korean business to participate in concessions for energy resources deposits in Bulgaria, as well as in high-tech infrastructure projects in Bulgaria, including the construction of inter-connectors and tunnel road and railway facilities, in the implementation of which Korea is among the leaders in the world.

During the Head of State’s visit in the Republic of Korea a memorandum on understanding was signed between Samsung Electronics and Sofia Tech Park.  Samsung Electronics and Sofia Tech Park will cooperate in implementing projects and initiatives on improving the national competitiveness, promoting training in the digital technologies sector and improving education so as to achieve intelligent growth. The company will also share its experience in innovations with the Bulgarian IT sector. We also expect other Korean world producers to get into Bulgaria and to take advantage of Bulgaria’s advantages as an outsourcing destination, the President further said.

“Here, in South Korea, we have an open door and enjoy a high reputation. The approach the Korean partners have adopted is extremely correct and it depends on us to boost the Korean investments in Bulgaria and to ensure that our country is attractive not only in a bilateral aspect, but also positions itself as a hub of Korean investments in the region and the world,” Head of State Rosen Plevneliev commented in Seoul.

The Head of State visited the innovations center of Samsung Electronics and the Creative Economy Innovations Center in Pangyo.