Turkish, South Korean leaders chart $15 billion partnership path in Ankara summit

South Korean President Lee Jae Myung and President Recep Tayyip Erdoğan of Türkiye held a summit on November 24 in Ankara, where the two leaders agreed to significantly expand economic cooperation across defence, nuclear energy, biotechnology, renewable energy, and other key sectors as part of efforts to deepen their strategic partnership. The meeting was followed by a joint press conference.

President Erdoğan stated that President Lee’s visit further strengthened the close ties between Türkiye and South Korea, noting that extensive discussions had been held on all major aspects of bilateral relations.

According to remarks cited by Caliber.Az from HaberTürk, Erdoğan emphasised that cooperation opportunities were reviewed in areas ranging from trade, tourism, energy, defence industries, infrastructure, transport, science and technology to investment. He highlighted substantial potential in artificial intelligence, semiconductors, battery technologies, and renewable energy.

Erdoğan announced that an important document had been signed to enhance cooperation between the two countries’ private sectors in the wind energy field, and noted that the sides had reached an agreement on a joint project involving blood plasma — an initiative in which Korea’s SK Plasma is already participating within the framework of the Turkish government’s blood-product program.

He also cited major infrastructure projects featuring Korean involvement, including the Çanakkale Bridge and the Eurasia Undersea Tunnel, as examples of successful collaboration.

Referring to economic ties, Erdoğan noted that South Korea is Türkiye’s second-largest trading partner in the Asia-Pacific region. “We are very close to reaching $15 billion in trade with South Korea. We have already exceeded the $10 billion mark. I drew attention to the revision of our free trade agreement to ensure more balanced trade relations,” he said.

President Lee described Türkiye as a “brotherly nation,” recalling that Turkish forces fought alongside South Korea during the 1950–53 Korean War. He expressed hope that the bilateral strategic partnership would evolve into a more “future-oriented and mutually beneficial” relationship.

 As an example of existing cooperation, Lee pointed to Türkiye’s Altay main battle tank — developed on the basis of South Korea’s K2 tank technology — emphasising the importance of creating additional “success stories” to bolster cooperation in the defence industry.

“We agreed to continue cooperation based on mutual trust in joint production, technological collaboration and personnel exchanges, as we work toward emerging as leading defence industry powers,” Lee said in the joint briefing.

Nuclear energy was another major topic. Lee underscored South Korea’s advanced nuclear technology as part of efforts to support the state-run Korea Electric Power Corp. (KEPCO) in its bid for Türkiye’s planned nuclear power plant project in Sinop on the Black Sea coast. Erdoğan called the memorandum signed between KEPCO and Türkiye’s state utility on nuclear cooperation an important milestone.

On the sidelines of the summit, the two countries’ national power operators signed an MOU covering cooperation in technology, site assessment, licensing and regulatory procedures, financial frameworks, and business models. Lee noted that both governments agreed to support the remaining evaluation process for Türkiye’s nuclear project as previously planned.

“I look forward to Korea’s outstanding nuclear technology and operational safety contributing substantially to the development of Türkiye’s nuclear energy,” he said.

The leaders also agreed to strengthen cooperation in emerging fields such as renewable energy, artificial intelligence, and digital technologies. Lee welcomed the signing of an MOU between Korea’s CS Wind and Türkiye’s Enerjisa on wind-power collaboration, saying it would enhance renewable energy cooperation.

In addition to bilateral relations, Erdoğan and Lee discussed a wide range of regional and international issues, including Palestine, Ukraine, Syria, and the Korean Peninsula. They reaffirmed their commitment to continued coordination on international and regional platforms, including the UN, G20, and MIKTA.

Erdoğan added that both countries believe they can work together in Iraq, Africa, and Central Asia, including in reconstruction efforts in Syria, Gaza, and Ukraine. “Regarding the situation in Gaza, as Türkiye and South Korea, we support the continuation of the ceasefire and the two-state solution,” Erdoğan said.

Lee expressed appreciation for Türkiye’s support of his government’s North Korea policy and praised Erdoğan’s efforts to promote regional stability. He pledged that South Korea would expand its humanitarian assistance to help Türkiye address the Syrian refugee situation.

By Tamilla Hasanova