Bulgaria negotiates with Hyundai and another South Korean company for investment

Bulgaria and South Korea on September 25 continue talks on strategic co-operation in the automotive industry.

Bulgaria’s Prime Minister Boyko Borissov is on an official visit to the South Asian country. The government is holding talks with Hyundai and another South Korean company for investments to the size of billion and a half dollars.

Bulgaria and South Korea are negotiating on building autonomous car testing centre and battery plant for electric cars. It became clear after Prime Minister Boyko Borissov's visit to the Hyundai Innovation Centre near Seoul.

Boyko Borissov, Prime Minister: Bulgaria is known for its factories in the automotive industry. The ongoing talks with Volkswagen have been heard everywhere in the world.

Bulgaria attracts South Korean auto companies with high-quality workforce and experience with more than 250 factories, the PM said.

Bulgaria has also provided possible areas for factories to the two South Korean companies with an interest in Bulgaria and is awaiting a response.

South Koreans are also interested in Bulgarian tourism.

Boyko Borissov, Prime Minister: There is already a pretty serious middle class that already goes to Croatia, 1 million tourists, so in this area we should find a way to have direct flights.

South Korea is among the top 30 investors in Bulgaria with € 213 million. There are 249 companies with Korean participation in Bulgaria.

The trade between the two countries for 2018 has gone up by almost 50%.

PM Borissov was also awarded with the honourable 9th Dan in the Taekwondo World Headquarters.

Boyko Borissov, Prime Minister: Taekwondo principles are very important, especially for young people: when you are stronger, be more lenient towards the weak, use the power for peace.

During the visit, PM Borissov presented a wreath at the Seoul National Cemetery, where hundreds of thousands of Koreans involved in the Korean War and the Vietnam War were buried.