Türkiye, South Korea sign MoUs, including financing for second nuclear plant
President Recep Tayyip Erdoğan and South Korean President Lee Jae Myung oversaw the signing of several memoranda of understanding in Seoul on Nov. 3, 2026, including one on financing Türkiye's second nuclear power plant planned in Sinop. The leaders also discussed defense cooperation, advanced technologies, mining and trade, and Lee announced a South Korea-Türkiye Energy Transition Forum.
What it means for companies
- The nuclear financing memorandum covers cooperation on financing Türkiye’s second nuclear power plant planned in Sinop; details are set out in the source.
- The leaders discussed updating the existing free trade agreement to reflect current economic conditions and addressing trade imbalances, customs delays and other barriers affecting businesses; details are set out in the source.
- Additional agreements covering energy, natural resources and mining are expected to support investment, technological development and diversification of critical mineral supply chains, the source states; specific terms are set out in the source.
Source: Daily Sabah (3 Nov 2026). This summary is for information only and is not tax, legal or investment advice.