Turkey, South Korea sign cooperation deal

South Korean Minister of Land, Transport & Maritime Affairs Jong-hwan Chung and Turkish State Minister Zafer Caglayan signed the memorandum of understanding in Ankara.

The two ministers also discussed the commercial and economic relations as well as relations on contractor services between the two countries.

Meanwhile, South Korean Minister of Land, Transport & Maritime Affairs Jong-hwan Chung met with Turkish Transportation Minister Binali Yildirim in Ankara on Monday.

Yildirim said that the commercial relations between Turkey and South Korea recorded great progress in recent years, adding that the trade volume increased to 3.5 billion USD.

Yildirim noted that Turkish and South Korean businessmen could make investment together in third countries.

He also recalled that South Korean iron-steel company Posco decided to make investment in Turkish northwestern province of Bursa with its Turkish partner.

Yildirim added that Posco was also interested in larger infrastructure projects in Turkey.

South Korean minister said that Turkish-South Korean economic relations should be opened to third countries.

The minister also said that South Korea developed high speed train, adding that they could cooperate with Turkey in high speed train projects.

Noting that Posco was working in construction sector, Chung said that the company was also interested in the third bridge which would be built in Istanbul.


/World Bulletin/