South Korea and Türkiye Expand Nuclear and Defense Ties

South Korean President Lee Jae Myung and Turkish President Recep Tayyip Erdoğan agreed at a Seoul summit on November 3 to expand nuclear energy and defense cooperation, while signing a memorandum to explore financing for Turkish nuclear projects. The financing memorandum was signed by the Export-Import Bank of Korea and Türkiye Nuclear Energy Inc., known as TÜNAŞ, following the leaders’ talks. Türkiye’s Energy and Natural Resources Ministry said the organizations would examine possible financing arrangements and form a working group to exchange information. The memorandum specified no funding amount or commitment. The discussions included Türkiye’s planned nuclear power plant at Sinop, where South Korean companies are seeking a role. Lee said cooperation on the project, including site assessments and work by a joint group, was progressing smoothly. Türkiye has not selected a project partner. Erdoğan has described South Korea as a potential partner, while saying Türkiye is considering financing, electricity costs and economic benefits before deciding. The new financing memorandum builds on a nuclear cooperation agreement signed in November 2025 by TÜNAŞ and Korea Electric Power...