1. The Ministry of Foreign Affairs held the “Republic of Korea-Republic of Bulgaria Energy Seminar” in a virtual format on October 6 to strengthen cooperation in achieving a green economy with Bulgaria, which seeks to become an energy hub in Southeast Europe, and to support Korean companies’ efforts to increase presence in the country.

2. At the seminar held under the theme “Green Deal: Pathway for the Republic of Korea and the Republic of Bulgaria towards a low-carbon and green economy,” experts from the two countries explored ways to respond to climate change and global pandemic together.

o In particular, speakers and panelists had discussions mainly on the progress and challenges in coal phase-out; Bulgaria’s efforts to diversify energy sources and possible cooperation with Korean companies; and the two countries’ hydrogen policies for energy transition.

3. In his opening remarks, Ambassador to Bulgaria Jeong Jinkyu expected the seminar to serve as a good opportunity to seek cooperative synergy between the European Union (EU)’s Green Deal and the ROK’s Green New Deal, while substantive cooperation is underway between the two countries, including exchange of Korean quarantine equipment.

4. President Solomon Passy of the Atlantic Club of Bulgaria, who co-hosted the seminar, introduced successful cases of Korean companies’ investment in renewable energy in Bulgaria, and assessed that there is great potential for bilateral cooperation in the electric vehicle battery and hydrogen sectors.

5. In his keynote address, Director-General for Climate Change, Energy, Environment and Scientific Affairs Chung Keeyong said that while major countries around the world are making active efforts to overcome economic crisis through the energy transition, the ROK also announced in July the “Green New Deal,” which focuses on transitioning to green infrastructure and establishing an ecosystem that supports green industry innovation. He went on to stress that the renewable energy sector which both the ROK and Bulgaria are focusing on could serve as a driving force for enhancing bilateral relations.