South Korea and Turkey sign financing pact as Seoul seeks role in planned nuclear power plant

Turkey and South Korea have signed an agreement to explore financing for Turkey's nuclear projects, particularly the planned Sinop nuclear plant. The memorandum was established between the Export-Import Bank of Korea and Turkey Nuclear Energy Inc. during discussions between Presidents Lee Jae Myung and Recep Tayyip Erdoğan. The agreement aims to facilitate funding arrangements and enhance cooperation in defense production and technology. Both nations are also focusing on expanding trade, with bilateral trade exceeding $11 billion last year and a target of $15 billion. Erdoğan's visit marks his first to South Korea since 2018, strengthening their strategic partnership established in 2012.