Abstract news and insights background for the Turkish Chamber of Commerce in Korea

News & Insights

Stay informed with the latest updates, market insights, and news from the Turkish-Korean business community.

Special Feature

A New Era in Türkiye-South Korea Economic Cooperation

Ahead of Foreign Minister Hakan Fidan's visit to South Korea in June 2026, it was reported that the two countries aim to deepen their strategic partnership in trade, technology, defense, and regional security.

A report dated June 3, 2026, also stated that the parties reaffirmed their shared commitment to expanding trade and investment ties.

During the Türkiye-Korea economic meeting in March 2026, the mutual will to elevate the economic partnership to a more balanced and advanced level was emphasized.

Diplomatic meeting between Turkish and South Korean officials discussing economic cooperation

Trade and Investment

According to late 2025 assessments, the trade volume between Türkiye and South Korea exceeded $10 billion, and the liberalization of goods trade under the FTA remained a key topic on the economic agenda. According to the Ministry of Foreign Affairs, the South Korean investment stock in Türkiye reached $1.9 billion by the end of 2024, with 422 Korean companies operating in the country.

Flags of Turkey and South Korea representing bilateral business and new sector collaborations

Emerging Sectors

During the contacts in February 2026, new cooperation topics in nuclear energy, artificial intelligence, semiconductors, and renewable energy came to the forefront. The strategic partnership document published in November 2025 also highlighted concrete agreements in nuclear energy cooperation and transportation-infrastructure.

Panel discussion at an international policy forum covering Turkey-Korea relations

Institutional Contacts

The simultaneous mention of technology and defense cooperation alongside trade in the June 2026 reports indicates that the economic relationship is shifting towards higher value-added sectors. Economic relations are becoming increasingly institutionalized through meetings, forums, joint commissions, and strategic partnership declarations.

Other News and Updates

News

August 11, 2026

COP31 Antalya: A New Platform for Türkiye–Korea Green Cooperation

Türkiye is preparing to host the 31st Conference of the Parties (COP31) to the United Nations Framework Convention on Climate Change in Antalya in November 2026. According to the UN Climate Change Secretariat, the conference will take place at the Antalya EXPO Center from November 9–20. The COP31 program will include the Conference of the Parties as well as high-level sessions under the Kyoto Protocol and the Paris Agreement. For Türkiye, COP31 means more than hosting global climate negotiations. It also creates an international platform where new collaborations in sustainable production, energy transition, climate finance, and green technology can be discussed. Türkiye's action agenda announced in preparation for COP31 highlights clean energy and electrification, circular economy, methane emission reduction, sustainable agriculture, green industrialization, resilient cities, and youth participation in climate action. Looking at the economic relations between Türkiye and the Republic of Korea, COP31 can create new areas of engagement, particularly under the green transformation heading. South Korea has a strong industrial and technology ecosystem in areas such as battery technology, energy efficiency, semiconductors, electric mobility, digitalization, and low-carbon production. Türkiye offers complementary opportunities with its manufacturing capacity, access to European-Middle Eastern-African markets, and renewable energy investments. Business meetings, country pavilions, side events, and cross-sector dialogues that can be organized before and during COP31 may enable Turkish and Korean companies to explore partnership opportunities in climate technologies, clean energy, sustainable supply chains, and the circular economy. However, there is currently no official announcement regarding South Korea's level of participation in COP31, its delegation structure, or a Türkiye-specific bilateral initiative at COP31. Türkiye's COP31 hosting offers an opportunity to combine the climate agenda with economic, investment, and technology diplomacy. TurkCham Korea will continue to follow the green cooperation potential between the two countries on the road to the summit and share relevant developments with its members and the business community.

New Trade Agreement Discussions Initiated - TurkCham Korea news article thumbnail

Chamber Update

June 12, 2026

New Trade Agreement Discussions Initiated

Representatives from Türkiye and South Korea have launched a new round of talks to review and further develop their existing Free Trade Agreement (FTA), which first entered into force in May 2013. The original agreement, composed of a Framework Agreement and a Trade in Goods Agreement, aimed to gradually eliminate customs duties on all industrial products within a maximum of seven years, while also liberalizing a significant share of agricultural trade over a period of up to ten years. In 2015, the two countries signed additional agreements on trade in services and investment, which entered into force in August 2018 and expanded the FTA into a more comprehensive economic partnership. On the back of these arrangements, bilateral trade in goods rose to around 8–10 billion dollars in the last decade, underlining the strategic importance of the partnership for both sides. During the latest talks, officials from Türkiye and South Korea are reported to be focusing on reducing non‑tariff barriers, simplifying customs procedures and exploring new areas of cooperation such as digital trade, green technologies and supply‑chain resilience. Both governments underline that an upgraded FTA would not only support industrial exporters and investors, but also create new opportunities for small and medium‑sized enterprises engaging in bilateral trade.

Turkish Airlines Expands Seoul Routes - TurkCham Korea news article thumbnail

Member Spotlight

May 28, 2026

Turkish Airlines Expands Seoul Routes

The air link between Türkiye and South Korea continues to strengthen as three airlines now operate non‑stop flights on the Istanbul–Seoul/Incheon route, including Turkish Airlines, Asiana Airlines and Korean Air. As of June 2026, these direct services connect Istanbul Airport (IST) with Incheon International Airport (ICN) with a flight time of roughly ten hours, reinforcing Istanbul's role as a hub between Europe, Asia and the Middle East. Turkish Airlines, in particular, positions the Istanbul–Seoul route as a strategic corridor for Korean passengers traveling to Europe, Africa and the Middle East via its global network. By optimizing schedules and offering a wide range of onward connections from Istanbul, the carrier aims to increase its share in the growing Korean outbound travel market. Industry data show that demand on the Istanbul–Seoul route has been supported by rising tourism flows, business travel and educational ties between the two countries. Aviation analysts note that the presence of three carriers and multiple weekly frequencies creates more competition, which can translate into greater choice and potentially more attractive fares for travelers moving between Türkiye and South Korea.

Q3 Bilateral Trade Volume Reaches Record High - TurkCham Korea news article thumbnail

Economic Data

May 05, 2026

Q3 Bilateral Trade Volume Reaches Record High

Bilateral trade between Türkiye and South Korea has reached record levels in recent years, powered by their Free Trade Agreement and growing demand for industrial and intermediate goods. According to figures reported in late 2025, the trade volume between the two countries rose from 6.8 billion dollars in 2020 to 8.6 billion dollars in 2021, 10.1 billion dollars in 2022 and 10.5 billion dollars in 2023. During the first nine months of the following year, bilateral trade was recorded at around 8.1 billion dollars, indicating that the annual volume would again surpass the 10‑billion‑dollar mark. Officials in both capitals stress that this trend reflects not only the impact of tariff reductions under the FTA, but also the growing integration of Turkish and South Korean companies in global value chains. Trade data show that Türkiye's exports to South Korea reached about 971 million dollars in 2024, with key export items including vaccines and other biopharmaceutical products, as well as lead and zinc ores. On the import side, South Korean shipments to Türkiye are dominated by automobiles, machinery, electronics and high‑tech components, which are crucial for Türkiye's manufacturing sector and its own export performance. Economic observers note that the record bilateral trade volumes registered around the third quarter highlight the underlying potential of the partnership and support ongoing talks aimed at further improving market access, investment conditions and regulatory cooperation between Türkiye and South Korea.

News

April 20, 2026

Chairman of the Korea Chamber of Commerce & Industry meeting with foreign chambers

The Chairman met with representatives from the Turkish Chamber of Commerce in Korea prior to a broader meeting with foreign chambers to discuss bilateral trade enhancements.

Update

March 15, 2026

Special Update from TurkCham Korea

Today marked a significant milestone for the Turkish Chamber of Commerce in Korea (TurkCham Korea) as we had the honor of visiting the JK Building and engaging in meaningful discussions with Chairman Min Nam-Kyu and Professor Dr. Hee Soo Lee of Hanyang University. The JK Group, along with its affiliates, has established a solid relationship and business ventures with Turkiye, and they are eager to extend their operations from Turkiye to the surrounding satellite regions. Chairman Nam emphasized Turkiye's strategic position as a key nexus to the European Union, the Middle East, and the CIS regions, highlighting the opportunities for growth and collaboration. Reflecting our strengthening ties, Mr. Nam and Professor Dr. Lee have been warmly invited by TurkCham's Chairman, Metin Atalan, to join the team of the Turkish Chamber of Korea. Furthermore, their active roles in the Turkish Korean Friendship Association underscore the depth of their commitment to fostering the friendship and cooperation between Turkiye and Korea. We are pleased and honored to augment the value of the Turkish Chamber of Commerce in Korea with the addition of such distinguished individuals. Their knowledge and insights are set to significantly contribute to our mission of promoting stronger business and cultural connections between Turkiye and Korea.