At an official reception at the Millennium Grand Hotel in Sofia, the Embassy of the Republic of Korea in Bulgaria, together with honorary guests from both Korea and Bulgaria, celebrated the National Foundation Day of the Republic of Korea. The meeting was attended by state institutions, business, academia and culture representatives, diplomats, Korean citizens living in Bulgaria and employees of Korean companies in our country. At the invitation of the Embassy of Korea in Bulgaria, the Executive Director of Invest Sofia Dr. Maria Hristova attended the reception.
This year marks the 32nd anniversary of the establishment of diplomatic relations between Korea and Bulgaria. In his welcoming speech, the ambassador of Korea to our country H.E. Jeong Jinkyu noted the successful development of bilateral relations between the two countries since the establishment of diplomatic relations in 1990 and drew attention to the Korean government’s efforts to expand the cooperation in different areas, including politics, economy, society, culture.
According to data from the Ministry of Economy and Industry, among the leading goods in Bulgaria’s exports to Korea in 2021 are wheat and a mixture of wheat and rye; corn; copper strips and copper sheets; integrated circuits and electronic micro-assemblies; engines, etc.
The leading import goods for the same period are polyacetals, other polyethers and epoxy resins in primary forms; parts and accessories designed solely or generally for the machines and apparatus of NNs 8469 to 8472; synthetic staple fibers; acrylic polymers; pneumatic rubber tires, etc.
There are opportunities to expand Bulgaria’s export potential with products such as cereals, oil, wine, cosmetic/pharmaceutical products, and others. Bulgarian wines are unknown in the Republic of Korea and advertising is needed to impose the Bulgarian wines on the market in Korea.
According to BNB data, the total amount of Korean investments in Bulgaria at the end of 2021 was EUR 71.8 million.