Korean Business Eager to Invest in Bulgarian Energy, Infrastructure

Korean companies are preparing to invest in Bulgaria's energy sector, including in renewable energy, South Korea's Ambassador to Bulgaria Chun Bi-ho, said in a public lecture in Sofia.

His Excellency did not reveal details but said a large Korean company wanted to acquire a Bulgarian energy firm, which is to be privatized.

In addition, another company from South Korea has interest in taking part in the modernization of Bulgaria's electricity network.

At the same time, there is also interest on part of Korean construction and engineering firms considering Bulgarian infrastructure projects.

The South Korean Ambassador to Sofia pointed out that representatives of 15 Korean tourism companies came to Bulgaria in August 2010, as part of what was described at the time as an "unprecedented" business delegation, to study opportunities in Bulgaria for tour operators.

Spa tourism and mineral waters are said to have been their major focus.

Ambassador Chun Bi-ho, who has been in Sofia since March 2010, made clear his desire to facilitate as many contacts as possible between Bulgarian companies and government and the business sector in South Korea.

He urged companies from both countries to prepare to take advantage of the many opportunities to emerge with the coming into force of the EU-South Korea free-trade agreement, to become active as of July 1, 2011.