Korea, Turkey deepen Sinop nuclear plant cooperation at Seoul summit
Summary
Korea and Turkey agreed to deepen nuclear, defense and economic cooperation at a bilateral summit in Seoul on Tuesday. A new financing-cooperation MOU is intended to support Korean firms’ participation in Turkey’s planned Sinop nuclear plant project. The leaders also agreed to expand joint defense production, address trade and customs issues, and cooperate on science, energy, resources and diplomacy. Turkey plans four reactors at Sinop and aims to begin generating electricity there before 2035.
Key Facts
- The Export-Import Bank of Korea and Turkey’s nuclear energy corporation will exchange project information, assess financing feasibility and identify potential funding opportunities.
- Turkey’s planned Sinop plant is to have four reactors on the Black Sea coast.
- Bilateral trade reached a record $10.7 billion last year, following the free trade agreement’s entry into force in 2013.
- The science and technology agreement covers joint research and exchanges in six fields, including AI, biotechnology, advanced telecommunications and materials.
- The leaders backed construction of a plasma fractionation plant involving SK Plasma to support Turkey’s self-sufficiency in plasma-derived medicines.
MOUs signed on nuclear financing, defense, critical minerals and biotechnology
President Lee Jae Myung shakes hands with Turkish President Recep Tayyip Erdogan before their expanded summit at Cheong Wa Dae in Seoul, Tuesday. Yonhap
Korea and Turkey agreed to deepen cooperation on nuclear power plants during a bilateral summit in Seoul on Tuesday, signing a memoradum of understanding (MOU) to support Korean firms’ participation in Turkey’s planned Sinop project.
President Lee Jae Myung and Turkish President Recep Tayyip Erdogan also agreed to expand joint arms production, explore joint entry into third-country markets, boost trade and investment, broaden future growth cooperation and coordinate for Korean Peninsula peace and international stability.
“With this MOU, we will be able to proactively help Korean companies participate in new Turkish nuclear power plant projects,” Lee said at a joint press announcement after the summit at Cheong Wa Dae, referring to the agreement on nuclear project financing cooperation.
The MOU between the Export-Import Bank of Korea and Turkey’s nuclear energy corporation provides for project information exchanges, financing feasibility assessments and identification of potential funding opportunities.
It builds on a nuclear energy cooperation MOU signed during Lee’s state visit to Turkey in November 2025.
The Korean president said related work, including site assessments and a joint working group, was progressing smoothly.
Turkey plans to build four reactors in Sinop on its Black Sea coast as its second nuclear power plant, with a goal to begin generating electricity from the plant before 2035.
Ahead of his visit, Erdogan described Korea as “a great potential collaborator,” citing preliminary feasibility studies with the state-run Korea Electric Power Corp.
He said financing, electricity generation costs and benefits to Turkey’s economy would help determine its choice of partner.
President Lee Jae Myung and Turkish President Recep Tayyip Erdogan, accompanied by their officials, hold an expanded summit at Cheong Wa Dae in Seoul, Tuesday. Yonhap
On defense, Korea and Turkey agreed to build on the Altay tank project.
At a lower level bilateral committee meeting in July, the two countries agreed to explore new cooperation areas, followed by a letter of intent on naval vessel cooperation in September.
“Looking ahead, we agreed to further deepen defense industry cooperation by expanding joint production and technological collaboration and exploring opportunities for Korean and Turkish companies to enter third-country markets together,” Lee said.
They also pledged cooperation on major Turkish road projects under an MOU signed last year.
On trade, the two leaders agreed to address imbalances, import restrictions and customs clearance delays. Bilateral trade reached a record $10.7 billion last year, following their free trade agreement’s entry into force in 2013.
Furthermore, the two countries will continue working to resolve difficulties Koreans face obtaining Turkish work permits.
They also signed three further MOUs to expand cooperation in science, technology and innovation, energy, natural resources and mining.
The science pact promotes joint research and personnel and information exchanges in six fields, including AI, biotechnology, advanced telecommunications and materials.
Korea and Turkey will accordingly hold their first joint science and technology committee meeting.
The energy agreement covers exchanges on renewables, power grids and nuclear power, alongside a new energy transition forum to identify projects.
The resources pact supports information sharing on critical minerals and rare earth projects, advanced materials partnerships and digital mining cooperation to diversify supply chains.
In biotechnology, the two leaders backed construction of a plasma fractionation plant involving SK Plasma to support Turkey’s self-sufficiency in plasma-derived medicines.
On diplomacy, Turkey reaffirmed support for Seoul’s North Korea policies.
Both sides pledged cooperation for peace on the Korean Peninsula, coordination at the United Nations, G20 and MIKTA, and communication on Ukraine and the Middle East.
The summit preceded the 70th anniversary of diplomatic ties next year.
“I will work closely with President Erdogan to faithfully implement today’s agreements and deliver tangible results for both our peoples,” Lee said.
It was Erdogan’s first state visit to Korea in eight years, with the meeting coming about four months after the two leaders met during the NATO summit in Ankara in July.
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