Industry Minister Proposes 'Green and Digital Cooperation' Linked to Korean New Deal in Turkey

Ministry of Industry Holds 'Korea-Turkey Virtual Business Forum' with KCCI and Turkish Ministry of Trade
Eco-Industrial Complex Expands to Smart Green Complex... Proposes Korean IT Integration in Turkey's Digital Transformation
Celltrion, SK Planet Present Turkey Business Achievements and Cooperation Cases

Sung Yun-mo, Minister of Trade, Industry and Energy. / Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Moon Chaeseok] The government proposed overcoming the COVID-19 pandemic and economic recovery in Turkey by focusing on 'Green' and 'Digital' linked to the Korean New Deal.

The Ministry of Trade, Industry and Energy announced that it will hold the 'Korea-Turkey Virtual Business Forum' via video conference from 4 p.m. on the 22nd, together with the Korea Chamber of Commerce and Industry, Turkey's Ministry of Trade, and the Foreign Economic Relations Board.

On the Korean side, Minister Sung Yun-mo of the Ministry of Trade, Industry and Energy, Park Yong-man, Chairman of the Korea Chamber of Commerce and Industry, and Gong Young-woon, President of Hyundai Motor Company, will attend. On the Turkish side, Ruhsar Pekcan, Minister of Trade, Nail Olpak, Chairman of the Foreign Economic Relations Board, and Ali Kibar, Chairman of Kibar Holdings, will participate.

In his congratulatory remarks, Minister Sung said, "The historical and emotional ties between the two countries, formed through Turkey's participation in the Korean War, have developed into a friendly economic cooperation relationship, such as the Korea-Turkey FTA that came into effect in 2013."

He then presented 'Green' and 'Digital' as key keywords for overcoming the COVID-19 crisis and economic recovery. He emphasized three directions for economic cooperation between the two countries linked to the Korean New Deal.

First, he suggested expanding the cooperation on ecological industrial complexes currently being promoted by both countries into smart green industrial complexes and creating synergy effects in green mobility, such as electric vehicles, which are common interests.

Previously, in April 2018, the Ministry of Trade, Industry and Energy and Turkey's Ministry of Science, Industry and Technology signed a Memorandum of Understanding (MoU) for cooperation in building ecological industrial complexes.

Next, he proposed promoting Turkey's digital transformation by combining Korea's IT capabilities with Turkey's distribution and transportation networks. The Turkish government is pushing various transportation and infrastructure projects to mark the 100th anniversary of the Republic's establishment in 2023.

Lastly, he suggested continuously promoting the smooth movement of essential personnel and logistics between the two countries to minimize supply chain disruptions caused by COVID-19 and to enhance trade and investment.

In April, the entry of 143 Hyundai Motor and partner company employees into Turkey was permitted, enabling the smooth mass production of the new i20 model in August. Despite COVID-19, trade between the two countries from January to August this year increased by 3.2% compared to the same period last year, reaching $4.43 billion.

Meanwhile, at the forum, alongside explanations of the Turkish investment environment, representative cooperation cases between companies from both countries in bio and information technology (IT) sectors were also presented.

Lee Hyuk-jae, Executive Director of Management Support at Celltrion, said, "Celltrion has supplied biopharmaceuticals since establishing a sales corporation in Turkey proactively 10 years ago. As a result of a 10-year cooperation through contract manufacturing agreements with local Turkish pharmaceutical companies, we have achieved a significant market share in the global market for certain therapeutic areas."

Yoon Cheol-jin, Group Leader of SK Planet, emphasized the background of finding opportunities in Turkey, achievements through joint ventures with local companies, and the growth potential of the e-commerce market based on online platforms.