President Erdogan targets $15 billion trade and possible Sinop nuclear role for Seoul during Seoul visit.
MoneyTurkey Politics Desk | 2 November 2026
Key points
- Turkish President Erdogan said Ankara is assessing South Korea’s role in the planned Sinop nuclear plant and set a $15 billion bilateral trade target.
- Trade last year ran $1.14 billion Turkish exports to South Korea and $10.26 billion imports, according to figures cited in the Yonhap interview.
Turkish President Recep Tayyip Erdogan told Yonhap News Agency that Turkey is weighing South Korea’s participation in the planned Sinop nuclear power plant on the Black Sea coast. The comments came ahead of his four-day visit to Seoul, the first since 2018. Erdogan also set a $15 billion bilateral trade target and urged South Korean firms to expand investment in Turkey’s defense, transport and advanced technology sectors.
What happened
In the Yonhap interview, Erdogan said Turkey and South Korea signed a memorandum of understanding on nuclear cooperation during South Korean President Lee Jae Myung’s visit to Turkey last year. The pact covers reactor technology, site assessment, licensing, financing and business models. Turkey has since conducted feasibility studies with Korea Electric Power Corp. (KEPCO) and continues to review the project’s technical and economic viability.
Erdogan said Ankara will decide on a partner after considering electricity generation costs, financing arrangements and the plant’s contribution to the Turkish economy. He added that Turkey is also examining options with other countries in line with its national interests.
Beyond nuclear energy, Erdogan identified semiconductors, robotics, artificial intelligence and defense as areas for deeper cooperation. He welcomed South Korean interest in Turkey’s PD170 turbodiesel aircraft engine and cited Hyundai’s electric-vehicle production at its Izmit plant and POSCO’s steel investments as examples of existing ties.
What is at stake for markets
Erdogan said risks to global energy markets and shipping routes, including those linked to tensions involving the United States and Iran, have increased the need for reliable alternative trade corridors between Asia and Europe. He invited South Korean companies to take part in Turkey’s transport and logistics infrastructure projects that aim to strengthen those links.
The two countries are working toward the $15 billion trade target. Last year Turkey exported about $1.14 billion in goods to South Korea and imported roughly $10.26 billion, according to figures cited in the interview. Erdogan called for a more balanced trading relationship and said expanding trade should be accompanied by greater investment and joint production.
Why it matters
Erdogan described Turkey’s manufacturing base, skilled workforce and geographic position as advantages for Korean investors and said combining Korean technology with Turkish production capacity could increase reciprocal investment. He encouraged South Korean firms to form partnerships in joint production and technology development.
The visit is also intended to broaden defense-industry ties, including unmanned aerial vehicles, engine technologies and electronic systems, and to explore cooperation on the Altay main battle tank project.
What to watch
- Nov. 3 meeting between Erdogan and Lee Jae Myung
- Any announcement on Sinop nuclear partner selection criteria
- Progress toward $15 billion trade target and new investment pledges
- South Korean participation in Turkish logistics projects
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For information only. Not investment advice.
Sources
- Anadolu: https://www.aa.com.tr/en/turkiye/turkiye-seeks-stronger-south-korea-partnership-in-energy-tech-logistics-president-erdogan/4108486
- Hurriyet Daily News: https://www.hurriyetdailynews.com/erdogan-says-s-korea-could-join-sinop-nuclear-project-228928
- Daily Sabah: https://www.dailysabah.com/politics/turkiyes-ak-party-marks-anniversary-of-inaugural-win/news/amp
- Daily Sabah: https://www.dailysabah.com/politics/turkiye-moves-to-revise-alimony-rules-under-erdogans-directive/news/amp
- Daily Sabah: https://www.dailysabah.com/politics/erdogan-sends-radio-message-to-azerbaijan-flying-over-airspace/news
- Reuters: https://www.reuters.com/world/asia-pacific/erdogan-says-south-korea-could-partner-turkeys-sinop-nuclear-project-yonhap-2026-11-02/
- Yonhap News Agency: https://en.yna.co.kr/view/AEN20261029014800315
- Anadolu: https://www.aa.com.tr/en/turkiye/turkish-president-erdogan-departs-for-south-korea-on-official-visit/4108221
