Korea and Poland sign MOUs on nuclear power, tech and Ukraine

Diplomacy

Published: 14 Jul. 2023, 19:43

Korea and Poland sign MOUs on nuclear power, tech and Ukraine

President Yoon Suk Yeol, center, and Polish President Andrzej Duda, clap during the opening ceremony of the Korea-Poland business forum attended by some 250 businesspeople from both countries at a hotel in Warsaw on Friday. [JOINT PRESS CORPS]

Korea and Poland signed over 30 memoranda of understanding (MOUs) in areas including nuclear power plant cooperation, high-tech industries and the postwar reconstruction of Ukraine in a business forum in Warsaw on Friday.

President Yoon Suk Yeol and Polish President Andrzej Duda, meeting for a second day after their bilateral summit Thursday, took part in the Korea-Poland business forum attended by some 350 businesspeople and officials from both countries.

"The reconstruction of Ukraine will serve as a new chapter in cooperation between our two countries," Yoon said in his opening remarks at the bilateral business forum. "Poland is Ukraine's closest neighbor and will play an important role in postwar recovery projects."

He said Korea and Poland should "join as partners" to "help Ukraine to stand up again" and rebuild the country.

On that day, the two sides signed 33 MOUs strengthening cooperation in areas including high-tech industries, energy, infrastructure and services, according to the Korean Ministry of Trade, Industry and Energy.

This included six MOUs related to nuclear power plant cooperation.

Doosan and Korea Hydro & Nuclear Power are participating in a project to build nuclear reactors at the Patnow power station in Poland.

Other areas covered included batteries, future vehicles, aviation, robots, machinery, railways and research and development in the semiconductor sector.

The two countries also agreed to continue exchanges of science and engineering personnel in high-tech fields between Korean national universities such as Pusan National University, Kyungpook National University and Chonnam National University and Poland's Warsaw University of Technology and Adam Mickiewicz University.

During his official visit to Poland, Yoon was accompanied by an 89-member business delegation including executives of top conglomerates including LG Chairman Koo Kwang-mo, Hanwha Group Vice Chairman Kim Dong-kwan, LS Group Chairman Koo Ja-eun, Samsung Electronics Vice Chairman Han Jong-hee and Daewoo Engineering and Construction Chairman Jung Won-ju. It also included small and medium-sized companies.

Kim Byong-joon, chairman of the Federation of Korean Industries (FKI), and Piotr Dytko, deputy chairman of the Polish Investment and Trade Agency, also spoke at the forum, also attended by Korean Industry Minister Lee Chang-yang and Poland's Economic Minister Waldemar Buda.

The two countries recorded the largest trade volume ever at $9 billion dollars last year, according to the Korean government. Some 350 Korean companies are active in Poland, which helped create more than 20,000 jobs locally, contributing to the European country's economic development.

Poland is the largest buyer of Korean weapons, and arms deals signed last year amount to an estimated total of some 20 trillion won ($15.6 billion).

Poland, a member of the European Union, is strategically located in central Europe and is expected to serve as bridge for Korean batteries to enter the European market. It also shares a border with Ukraine.

"Poland, a gateway for Korean companies to enter Europe and a strategic logistics hub, is Korea's most important cooperation partner in central and eastern Europe," Yoon said at the forum. "Poland has emerged as Europe's battery production hub as Korean batteries, materials and parts companies have built a battery ecosystem with Europe's largest production capacity here."

He then called to expand cooperation to other high-tech industries such as aerospace, smart factories and eco-friendly energy, and further strengthen cooperation in the defense and infrastructure fields.

"Strengthening cooperation between the two countries will not only have economic benefits, but also strengthen defense capabilities and industries, and contribute greatly to economic security and the stabilization of supply chains in both countries," he said.

Regarding rebuilding Ukraine, Yoon said, "Korea has a lot of experience in participating in postwar reconstruction projects and has built trust based on pour outstanding technology."

This comes amid estimates that postwar reconstruction projects in Ukraine could amount to an estimated $1 trillion.

The forum focused on the future of new mobility, artificial intelligence (AI) and other cutting-edge technology cooperation and supporting smart investments in quality infrastructure in rebuilding Ukraine.

The two countries mark the 10th anniversary of establishing a bilateral strategic partnership.

Korean President Yoon Suk Yeol, center left, and first lady Kim Keon-hee, right, and Polish President Andrzej Duda, center right, and first lady Agata Kornhauser-Duda, left, toast each other at an official dinner at the presidential palace in Warsaw, Poland, on Thursday evening. [PRESIDENTIAL OFFICE]

On Thursday, Yoon held a bilateral summit with Polish President Andrzej Duda where he stressed in a joint press conference that Korea and Poland "can be optimal partners in rebuilding Ukraine."

The two countries also signed three memoranda of understanding (MOU) for infrastructure, reconstruction projects in Ukraine and the Trade and Investment Promotion Framework.

Yoon awarded Korea's top order, the Grand Order of Mugunghwa, to President Duda for his contributions toward promoting the two countries' friendship, according to the presidential office. He also awarded the Gwanghwa Medal of the Order of Diplomatic Service Merit, the second-highest medal, to Polish first lady Agata Kornhauser-Duda.

Duda in turn conferred to Yoon the Order of the White Eagle, Poland's highest order, and Kim with the Grand Cross of the Order of Merit, the second-highest honor.

Later Thursday, Yoon held a luncheon meeting with Polish Prime Minister Mateusz Morawiecki, an economist, asking him for cooperation in resolving any difficulties faced by Korean companies operating in Poland.

He also met with the leaders of the upper and lower houses of the Polish parliament.

Yoon and first lady Kim Keon-hee laid wreaths at the Tomb of the Unknown Soldier in Warsaw.

Separately, first ladies Kim and Kornhauser-Duda engaged in a series of activities promoting friendly ties, including a visit to the Royal Lazienki Museum and a meeting with Polish scouts at the Belvedere Palace, a state guest house.

Yoon and Kim later attended a state dinner with the Polish presidential couple and exchanged gifts.

"I hope that economic cooperation between the two countries will expand not only to the defense industry and nuclear power plants, but to future high-tech industries such as electric vehicles and IT," Yoon said, according to the presidential office.

President Duda in turn expressed anticipation that Yoon's visit "will serve as an opportunity to further deepen the strategic partnership between the two countries."

Yoon will also meet with some 100 students at the University of Warsaw in the trip.

The presidential couple will return to Seoul on Saturday, wrapping up their six-day overseas visit which also took him to Vilnius, Lithuania, to attend the NATO summit.

BY SARAH KIM [kim.sarah@joongang.co.kr]