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President Lee Jae Myung shakes hands with Turkish President Recep Tayyip Erdogan, who is on a state visit to South Korea, at Cheong Wa Dae on Nov. 3. / Yonhap News Agency

President Lee Jae Myung agreed on Nov. 3 to further expand cooperation between South Korea and Türkiye, particularly in nuclear power and defense.

The two countries agreed to establish a financial cooperation framework to support Korean companies' participation in Türkiye's new nuclear power plant projects and broaden defense cooperation to include joint production, technological cooperation and joint entry into third-country markets.

Following a summit with Erdogan at Cheong Wa Dae that afternoon, Lee said in a joint press announcement, "Building on our deep friendship and trust forged in blood, we agreed to broaden the scope of cooperation between our two countries."

"We held in-depth discussions on ways to further deepen our strategic partnership," he added.

First, the two leaders agreed to further develop cooperation on the Sinop nuclear power plant construction project in Türkiye, based on the memorandum of understanding (MOU) on nuclear cooperation signed in November last year.

The two countries are currently conducting site assessments and operating a joint working group for the Sinop nuclear power plant project. They signed an MOU on nuclear power project financing cooperation on the occasion of the summit.

The two countries will also expand defense cooperation. Building on the achievements of the Altay tank project, they agreed to identify new areas of defense cooperation and expand joint production and technological cooperation. They will also explore ways for companies from both countries to jointly enter third-country markets.

The two countries had previously expanded their cooperation by holding a Joint Defense Industry and Logistics Committee meeting in July and signing a letter of intent on naval vessel cooperation in September.

"We agreed to further deepen defense cooperation by expanding joint production and technological cooperation and jointly exploring opportunities for companies from both countries to enter third-country markets," Lee said.

In road infrastructure, the two countries agreed to expand cooperation opportunities in major road projects in Türkiye based on a related MOU signed last year. The two leaders also agreed to improve institutional conditions for expanding trade and investment.

Since the South Korea-Türkiye Free Trade Agreement (FTA) took effect in 2013, bilateral trade has steadily increased, reaching a record $10.7 billion last year, the highest level since the two countries established diplomatic relations.

The two countries agreed to discuss pending issues, including trade imbalances, import restrictions and customs clearance delays, while continuing intergovernmental cooperation to resolve difficulties faced by Korean residents in obtaining work permits.

In future growth industries, the two countries will significantly broaden cooperation to include critical minerals, energy and artificial intelligence (AI).

They signed an MOU on natural resources and mining cooperation and agreed to share information on critical minerals, rare earth resources and related projects. They will also establish a strategic partnership in advanced rare earth materials and cooperate in digitalizing mining operations using digital and AI technologies.

Through these efforts, the two countries aim to establish an intergovernmental cooperation channel in resources and mining and expand the foundation for technological and investment cooperation to diversify critical mineral supply chains.

In the energy sector, the two countries will establish the Korea-Türkiye Energy Transition Forum based on an MOU on energy cooperation. They will expand policy and technological exchanges and joint research in energy fields, including renewable energy, power grids and nuclear power, while identifying specific cooperation projects in clean energy and hydrogen.

In science and technology, the two countries signed an MOU on cooperation in science, technology and innovation. They agreed to expand joint research and development (R&D) and exchanges of personnel and information, focusing on six areas, including AI, biotechnology, advanced communications and advanced materials.

Based on the agreement, the two countries plan to hold their first Joint Committee on Science and Technology and strengthen R&D and digital cooperation networks to secure future growth engines.

In biotechnology, the two governments agreed to cooperate to ensure the smooth implementation of Türkiye's blood product self-sufficiency project, in which SK Plasma is participating, and the establishment of a plasma fractionation plant.

The two countries will also strengthen strategic coordination in diplomacy and security.

"Türkiye holds a special place in the hearts of our people as Kan Kardeş, meaning blood brothers," Lee said, paying tribute to the sacrifices of Turkish soldiers who fought in the Korean War.

He added, "The two countries exchanged views on major international issues, including the war in Ukraine and developments in the Middle East, and agreed to communicate closely to promote the peaceful resolution of conflicts and restore regional stability."

The two countries also agreed to expand coordination in multilateral forums, including the United Nations, the Group of 20 (G20) and MIKTA, a consultative group of middle-power countries.

Meanwhile, Lee arranged special honors for Erdogan's state visit, including a vehicle escort by traditional honor guards and a military band, as well as a special performance by the Army's taekwondo demonstration team.

Around 80 guests from various sectors in both countries attended the state dinner, including Hyundai Motor Group Executive Chair Chung Euisun, POSCO Group Chairman Chang In-hwa and Hyundai Rotem CEO Lee Yong-bae.

Lee also presented Erdogan with red ginseng and a Korean national basketball team jersey. Erdogan's wife, Emine Erdogan, received a celadon tea set and I Cook Rice, a book written by South Korean First Lady Kim Hae Kyung.

                                                                                                         Park Young-hoon