site.btaKorea-Bulgaria Energy Forum Held in Sofia

A Korea-Bulgaria Energy Forum titled "Clean, Secure, Competitive: The Energy Mix for Strategic Autonomy" was held at the Grand Hotel Millennium Sofia on Thursday. Organized by the Center for the Study of Democracy and the Embassy of the Republic of Korea in Bulgaria, and the Korea Trade-Investment Promotion Agency, the event brought together leading policymakers, industry executives, and experts from Bulgaria, South Korea, and across Europe to discuss nuclear energy, renewables, hydrogen, smart technologies, and sustainable investment. 

Among the participants were Energy Minister Zhecho Stankov, Deputy Innovation and Growth Minister Martin Danovski, аnd Bulgarian Energy Holding Executive Director Valentin Nikolov.

Addressing the forum, Minister Stankov said that Bulgaria has the potential to become the balancing energy power of the Balkans, noting plans for cooperation with investors such as Hyundai and Samsung. He identified energy security, decarbonization, and maintaining the competitiveness of Bulgarian businesses as key priorities, adding that the Cabinet and Parliament have decided to invest in nuclear energy. Stankov underscored the importance of working with partners from the Republic of Korea, noting that investment opportunities exist not only in large nuclear reactors but also in small modular reactors. The Minister also underlined the importance of investing in energy storage systems as part of the transition to a more resilient and sustainable energy mix.

Ambassador Dong-bae Kim said that his country is moving towards carbon neutrality through innovation, and that Bulgaria and the Republic of Korea share a common vision for achieving energy security while expanding their cooperation. Korean companies are ready to contribute to Bulgaria’s low-carbon transition with their innovative solutions, the Ambassador noted, adding that Korean investors are already present in solar energy production in the Veliko Tarnovo region. He expressed hope that this collaboration will expand into new areas.

Ruslan Stefanov, Program Director at the Center for the Study of Democracy, described the Republic of Korea as a strong friend of Bulgaria in the current geopolitical context. He emphasized Bulgaria’s potential to diversify its energy mix and use artificial intelligence and rare earth minerals to support this transformation. He added that electricity generation from diverse sources requires investment for the future.