site.btaBilateral Trade between Bulgaria, Korea Reaches USD 163.4 Mln

In the first half of 2023, bilateral trade between Bulgaria and the Republic of Korea reached USD 163.4 million, an increase of 10%, year on year, Deputy Economy and Industry Minister Nikolay Pavlov said at a meeting of the Bulgarian-Korean Business Club on Wednesday, as quoted by his Ministry.

The event was organized by the Korea Trade and Investment Promotion Agency (KOTRA), which has 126 offices in 86 countries around the world. The meeting was attended by Korean Ambassador to Bulgaria Jongin Bae, as well as representatives of Bulgarian and Korean companies.

The Republic of Korea is a strategic partner of Bulgaria in the East Asian region. "Our country is interested in continuing bilateral economic and trade relations and sees potential for their development," Deputy Minister Pavlov addressed the forum. Bulgaria seeks to attract more Korean investment in the industries of information and communication technology, high technology, research, automotive, transport, energy, healthcare, among others.

Pavlov emphasized that there is unrealized economic potential between Korea and Bulgaria, which should be encouraged.

Ambassador Jongin Bae added that after the difficult years surrounding the pandemic, investments in various sectors in Bulgaria are being discussed, including energy, automotive, information technology, among others.