Ministry of Foreign Affairs Hosts Korea-Bulgaria Energy Seminar... Exploring Cooperation on Korea's 'Green New Deal'

Exploring Solutions to Overcome Economic Crisis through Green New Deal and Renewable Energy Cooperation

[Asia Economy Reporter Lim Cheol-young] The Ministry of Foreign Affairs announced on the 7th that it held the 'Korea-Bulgaria Energy Seminar' via video conference on the 6th to strengthen cooperation for green economic recovery with Bulgaria and support the expansion of Korean companies' entry into the market.

The Korea-Bulgaria Energy Seminar has been held annually since 2018 to share energy security and energy transition policies between the two countries and discuss energy cooperation measures.

Under the theme "Green Deal: The Path of Korea and Bulgaria for a Low-Carbon and Green Economy," experts from both countries sought ways to overcome climate change and the global pandemic crisis together at this seminar.

In particular, discussions among presenters and participants focused on the current status and challenges of coal phase-out, Bulgaria's efforts to diversify energy sources and potential cooperation with Korean companies, and hydrogen policies of both countries for energy transition.

Jung Jin-gyu, Ambassador to Bulgaria, explained in his opening remarks that as the two countries pursue practical cooperation such as exchanging K-quarantine supplies, this event is expected to be a good opportunity to seek cooperative synergy between the European Union (EU) Green Deal policy and Korea's Green New Deal policy.

Following this, Solomon Passy, Chairman of the Bulgarian Atlantic Club, which co-hosted the event, introduced successful cases of Korean renewable energy investments in Bulgaria and evaluated that there is great potential for cooperation between the two countries in the fields of electric vehicle batteries and hydrogen energy.

Meanwhile, Jung Ki-yong, Director General of the Climate Environment Science Diplomacy Bureau, stated in his keynote speech that while major countries worldwide are actively striving to overcome economic crises through energy transition, Korea also announced its Green New Deal policy in July this year, focusing on green infrastructure transition and building an innovative green industry ecosystem. He added that the renewable energy sector, which both Korea and Bulgaria are focusing on, could become a driving force for enhancing bilateral relations.

This content was produced with the assistance of AI translation services.