In brief
Turkish President Tayyip Erdogan announced that South Korea could partner in the planned Sinop nuclear power station, following talks with Korea Electric Power Corporation. He outlined a broad scope of collaboration that spans defense, semiconductors, AI, and robotics, and emphasized a $15 billion trade target. While the technical and economic terms are being studied, key details on financing and electricity costs remain unresolved.
Tayyip Erdogan announced on 2 November 2026, in an interview with Yonhap News Agency, that South Korea could become a partner in Turkey’s planned Sinop nuclear power station, citing ongoing discussions with Korea Electric Power Corporation about technical and economic terms.
The Turkish president said Ankara is weighing financing options, electricity production costs, and the potential benefits to the Turkish economy before selecting a partner. He added that the nation is still studying the technical and economic terms of the Black Sea project with state‑run Korea Electric Power Corporation, and that deciding on a partner will involve a comprehensive assessment of these financial elements.
In the same interview, Erdogan outlined a context of high‑level diplomatic activity. He will be in Seoul for a three‑day state visit, the first since 2018, and is scheduled to hold a summit with South Korean President Lee Jae‑Myung on 3 November. The presidential office confirmed the summit will take place on Tuesday, further cementing the diplomatic backdrop for the nuclear project discussion.
Erdogan also identified a range of potential collaborative fields beyond nuclear power. He mentioned defense, semiconductors, artificial intelligence, and robotics as areas where the two countries could deepen cooperation. His remarks reflected an intent to broaden a broader economic partnership, stressing that South Korea’s strengths in these sectors could complement Turkey’s strategic goals.
Linked to these initiatives, the president highlighted a bilateral trade target of $15 billion and urged increased investment from South Korean companies. He called for joint production ventures and invited Korean firms to participate in Turkish transport and logistics projects that aim to bridge Asia and Europe. These remarks came in tandem with his broader appeal to address the trade imbalance favoring South Korea.
Despite the optimism, several elements remain uncertain. The project’s specific technical and economic terms, the financing structure, and the exact cost of electricity generated by the plant have yet to be finalized. Additionally, no concrete agreement has been reached regarding the extent of Korean participation or the timeline for the project’s commencement. These unresolved questions underscore that while a partnership is being explored, the concrete details of the arrangement remain to be determined by the respective governments and industry stakeholders.
