Türkiye and Korea: An Overview
TurkCham Korea is dedicated to strengthening the economic ties between Türkiye and Korea. We are committed to contributing to the development of trade and investment between the two nations and fostering collaborations through various activities.
Türkiye
- Capital: Ankara
- Population: Approximately 85 million
- Official Language: Turkish
- Currency: Turkish Lira (TRY)
- President: Recep Tayyip Erdoğan
Türkiye is among the world’s top 20 economies. Key sectors include automotive, agriculture, textiles, and tourism.
South Korea
- Capital: Seoul
- Population: Approximately 52 million
- Official Language: Korean
- Currency: South Korean Won (KRW)
- President: Yoon Suk Yeol
Korea is the world’s 12th largest economy. Major sectors include technology, automotive, shipbuilding, and electronics.
Relations Between the Two Countries
The historical connection has paved the way for robust diplomatic relations and a series of bilateral agreements aiming to enhance economic cooperation and trade.
In recent years, both countries have signed several agreements to boost economic ties, including free trade agreements (FTA), double taxation avoidance agreements, and memorandums of understanding (MOU) in various fields such as technology, tourism, and education. These agreements have significantly contributed to increasing bilateral trade volume and investment flows between the two nations.
Moreover, Türkiye and Korea collaborate closely in international forums and organizations, supporting each other’s positions on global issues. This partnership extends to sectors like defense, where Turkish and Korean companies engage in joint ventures and technology transfers, highlighting the strategic dimension of their relationship.
The Evolution of Türkiye-South Korea Relations
Türkiye and South Korea share a profound and multifaceted relationship that spans decades, intertwining political, economic, and cultural threads to create a rich tapestry of bilateral cooperation. From their initial diplomatic recognition in 1949 to the vibrant economic partnership of today, both nations have consistently worked to strengthen and expand their ties, underpinned by a mutual respect and shared goals.
Political Foundations and Historical Bonds
The political relations between Türkiye and South Korea were formalized on 11 August 1949, with Türkiye’s recognition of South Korea as an independent state. However, the roots of their connection run deeper, forged in the fires of the Korean War. Türkiye’s significant military contribution and the sacrifices made by Turkish soldiers have left an indelible mark on the collective memory of both nations, earning Turkish people the affectionate title of “blood brothers” in South Korea.
The Turkish Brigade, notable for its humanitarian efforts, including the establishment of a school for Korean orphans during the war, symbolizes the depth of Türkiye’s commitment to South Korea. These early interactions laid the groundwork for a lasting friendship, leading to the establishment of diplomatic ties in 1957 and the elevation to a strategic partnership in 2012. Frequent high-level visits and collaborations within international organizations, such as the UN, G-20, and MIKTA, further showcase the dynamic political engagement between the two countries.
Economic Engagement and Cooperation
Türkiye and South Korea’s economic relationship has been marked by a steady increase in trade, investment, and joint ventures. The signing of a free trade agreement in 2013 exemplified their mutual interest in deepening economic ties. Historical economic cooperation dates back to 1977, with significant emphasis placed on the Korean model of economic development, which Türkiye sought to emulate.
The establishment of the Korea-Türkiye Joint Economy committee in 1981 and the Korea-Türkiye Business Council in 1987 facilitated a platform for economic dialogue and partnership. South Korean investments in Türkiye , beginning with significant ventures by companies like GoldStar (now LG Electronics), Samsung, and Hyundai in the late 1980s and early 1990s, have been pivotal in integrating Türkiye into the global economic network and establishing it as a gateway to Europe and the Middle East for Korean businesses.
Trade volume and bilateral economic activities have shown remarkable growth, with the defense industry and infrastructure projects like the Çanakkale 1915 Bridge being notable areas of cooperation. These endeavors not only highlight the economic interdependence but also the technological and industrial synergies between the two nations.
The Road Ahead
As Türkiye and South Korea continue to build on their historical ties and strategic partnership, the future promises even greater collaboration and mutual benefits. The economic landscape between the two countries is characterized by a healthy trade balance, significant direct investment, and an ongoing commitment to expanding their trade relationship through agreements that facilitate easier exchange of goods, services, and capital.
Cultural exchanges and tourism have also played a vital role in strengthening the bond between the two countries, with an increasing number of visitors from South Korea exploring Türkiye’s rich heritage and vice versa. These personal and cultural connections underscore the multifaceted relationship between Türkiye and South Korea, a partnership that stands as a testament to the enduring power of shared history, mutual respect, and a forward-looking approach to bilateral cooperation.
In conclusion, the relationship between Türkiye and South Korea serves as a model for international relations, demonstrating how countries can evolve from allies in conflict to partners in prosperity. As both nations look to the future, their continued collaboration across political, economic, and cultural spheres is set to further enhance their strategic partnership, contributing to regional stability and global economic development.
