Industry Minister Ahn Duk-geun met his Bulgarian counterpart on Tuesday to sign a memorandum of understanding on forging deeper ties in the energy sector, including the nuclear power industry.
Ahn inked the agreement with his Bulgarian counterpart, Vladimir Malinov, in Seoul to seek bilateral energy cooperation in the face of geopolitical uncertainties, including the Middle East crisis, according to the Ministry of Trade, Industry and Energy.
During the meeting, the two ministers agreed that strengthening bilateral cooperation to enhance energy security and expand clean energy is essential, particularly amid climate change, which is sparking extreme weather events, such as heat waves and typhoons.
Ahn noted that Bulgaria, which depends on nuclear energy for 35 percent of its electricity needs, has great potential for cooperation with South Korea, which has also been speeding up efforts to achieve carbon neutrality.
The latest agreement, which renews the existing deal signed in 2019, centers on expanding cooperation to include liquefied natural gas, energy storage, and the supply chain.
Seoul and Sofia will also specify their ties in the nuclear energy industry, including the construction and dismantling of plants, as well as the small modular reactor sector, the ministry added.
This article was first published on 3 September by KERC.
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