site.btaEconomy Minister, Korean Business Representatives Discuss Investment Opportunities in Automotive Sector and Energy

Minister of Economy and Industry Bogdan Bogdanov met with the vice president of one of the largest South Korean car manufacturers at the company's headquarters in Seoul, Bogdanov's Ministry said in a press release Friday. The executive director of Automotive Cluster Bulgaria Lubomir Stanislavov was also present at the meeting.

Cooperation in the automotive sector was discussed, as well as the realization of joint projects in Bulgaria. Minister Bogdanov pointed out that Bulgaria is a good place for investments and invited the company's representatives to visit and familiarize themselves with the excellent ecosystem in the sector.

Bogdanov pointed out that the automobile industry is one of the fastest growing in Bulgaria and is among the priorities for attracting investments. "More than 350 companies in the sector already operate in our country. Last year alone, the industry accounted for more than 10% of GDP and created employment for 75,000 people," the Minister added. At the moment, 90% of cars produced in Europe use critical components produced in Bulgaria, Bogdanov also said.

The Minister of Economy and Industry also visited the headquarters of the largest company for the implementation of infrastructure and energy projects in South Korea, where he held a meeting with the president of the company. The two talked about the existing potential for partnership in the field of energy, infrastructure and innovation.

Nuclear energy was a focus at the meeting, as the Korean company has many years of experience in the field. Bogdanov and the president of the company also talked about the possibilities of implementing projects with a public-private partnership. The positioning of Asian companies in the industrial zones in Bulgaria so that they can successfully enter the European market was discussed.

The two countries united around the need for dynamic development of economic relations by jointly organizing a b2b forum in Bulgaria, where companies from both countries will take part.