President Recep Tayyip Erdoğan gave an interview to South Korea’s Yonhap News Agency during his visit to Seoul at the invitation of South Korean President Lee Jae Myung. Erdoğan stressed that the friendship between the two countries took root during the difficult days of the Korean War and has lost none of its value despite the decades that have passed.
“Strengthening political dialogue is our priority”
Explaining the priorities of the visit, Erdoğan said, “Our priority during our visit to Seoul is to strengthen political dialogue between the two countries and give momentum to our economic relations. We see significant opportunities in defense, nuclear energy, high technology, artificial intelligence and renewable energy.”
Erdoğan said they wanted to turn these opportunities into concrete projects and increase mutual investments, adding, “We have a $15 billion trade volume target for bilateral trade.”
Work with KEPCO on the Sinop nuclear power plant
Asked about the Sinop Nuclear Power Plant Project, Erdoğan replied, “Following the memorandum of understanding we signed last year, we carried out significant work with KEPCO as part of the pre-feasibility studies. We are continuing our assessments of the project’s technical and economic conditions and investment model.” Erdoğan said electricity costs, the financing model and the project’s contribution to Türkiye’s economy would be decisive in the final decision, adding that contacts with other countries were also being taken into consideration.
Erdoğan highlights trade imbalance
Drawing attention to the imbalance in trade between the two countries, Erdoğan said, “While our exports to Korea totaled approximately $1.14 billion in 2025, our imports stood at $10.26 billion. We want to reduce this gap and ensure that our trade reaches a more balanced and sustainable structure.”
Pointing to Hyundai’s automotive production in Türkiye and POSCO’s steel investments as concrete examples of the partnership, Erdoğan said they welcomed Hyundai’s start of electric vehicle production at its facilities in İzmit. Erdoğan also expressed satisfaction with South Korea’s interest in the PD170 engine developed by TUSAŞ subsidiary TEI.
Hormuz crisis and alternative routes
Erdoğan said security problems in the Strait of Hormuz directly affected global energy markets and international trade, adding, “The crisis has once again shown how vital it is to develop reliable alternative routes for international trade.” Erdoğan said South Korean companies could develop joint investments with Türkiye in railway infrastructure, logistics centers and smart transportation systems.
During Erdoğan’s visit, which will continue until November 4, he is expected to hold an official meeting with Lee Jae Myung on Tuesday, November 3, and various agreements are expected to be signed between the two countries.
