President Plevneliev Urges South Korean Firms to Invest in Bulgarian Industrial Zones

Business | May 13, 2015, Wednesday // 11:08|  views

Bulgaria's President Rosen Plevneliev, photo by BGNES

Bulgaria’s President Rosen Plevneliev has invited Korean companies to set foot in Bulgarian industrial zones and in the Sofia Tech Park.

In an interview for the Yonhap News Agency, South Korea's largest news agency, Plevneliev promotes Bulgaria as an investment destination located between Europe and Asia which can be the front door to the single European market.

He suggests that the two countries should use the instruments envisaged in the South Korea-EU free trade agreement efficiently.

According to data of South Korean authorities, bilateral trade between Bulgaria and Korea stood at USD 310 M in 2014.

As of September 2014, South Korean investment in Bulgaria amounted to USD 263 M, while Bulgarian investment in South Korea totaled USD 1.2 million.

Plevneliev is to arrive in South Korea on Wednesday for an official three-day visit on the occasion of the 25th anniversary of the establishment of diplomatic relations between the two countries.

On May 14, Plevneliev is to discuss with President Park Geun-hye opportunities for developing trade, investment, infrastructure, and security.

A bilateral business forum will be held in Seoul and the two countries will sign a number of memorandums of understanding (MOU).

MOUs will be signed between the Bulgarian Small and Medium Enterprises Promotion Agency and the Korea Federation of Small and Medium Business and between the Bulgarian Exporters Association and the Korea Importers Association, according to the publication.

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Tags: Rosen Plevneliev, Bulgarian President, South Korea, industrial zone, sofia tech park, Park Geun-hye


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