Turkey and South Korea signed three memorandums of understanding in Seoul on 5 November 2026 during Turkish President Recep Tayyip Erdogan’s visit. The agreements cover nuclear energy, clean technologies and industrial cooperation, and establish a framework for possible South Korean involvement in future Turkish nuclear projects without committing financing to a specific investment.
One arrangement brings Turkish Nuclear Energy (TUNAS) and the Export-Import Bank of Korea (KEXIM) together to examine financing structures for nuclear developments in Turkey. The framework is not a binding project loan or equity commitment, according to its terms.
A joint working group is expected to review technical information, possible funding mechanisms and the economics of potential projects. Any eventual financing would depend on further technical assessment and commercial negotiations, as well as agreement on the scope, risk allocation and implementation of individual projects.
Turkey’s energy and natural resources minister Alparslan Bayraktar and South Korea’s climate, energy and environment minister Kim Sungwhan signed the broader energy cooperation agreement after talks between the countries’ leadership. The package covers renewable energy, hydrogen, energy efficiency and smart-grid technologies, in addition to power generation.
Bayraktar also met representatives of South Korean electricity utility KEPCO and permanent-magnet producer JS Link. The discussions encompassed energy and related industrial technologies, rather than a single power-plant transaction.
For Turkey, international technology and financing partners could support a more diversified power mix and domestic industrial capacity. The discussions give South Korean companies an opportunity to assess participation in large energy and manufacturing projects, while investment decisions remain at an early stage.
