Stefan Stoyanov met with the Director of the Trade Department at the Embassy of the Republic of Korea

Deputy Mayor Stefan Stoyanov met with Ms. Yousun Hwang, Director of the Trade Department at the Embassy of the Republic of Korea in Sofia (KOTRA). During the meeting, they discussed opportunities for investment development between Korean and Plovdiv companies.

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“I know that Plovdiv is the second largest economic center in Bulgaria and that’s why I really wanted to visit it,” Hwang said. She explained that KOTRA supports Korean investments in Bulgaria by organizing forums and bilateral business meetings. According to her, the organization supports Bulgarian companies in their visits to exhibitions in Korea and helps connect Korean companies with potential Bulgarian partners.

“I will be happy if today’s meeting is an occasion to increase trade between our two countries,” said Deputy Mayor Stefan Stoyanov. He commented that Plovdiv is one of the largest industrial zones in Southeast Europe, where hundreds of international and Bulgarian companies manufacture products in the fields of mechanical engineering, robotics and electronics.

“Last year, despite the pandemic, there have been a record-setting number of investments in the industrial zones around the city, with a number of launched projects for new medium and large production facilities. Nearly 40% of the region’s GDP is manufacturing, while the second largest sector is services, and especially business services, which are the fastest growing sector in the local economy in the last 5 years, ” said Stoyanov.

He reminded that 2 years ago the Korean company Hanon Systems entered the region of Plovdiv and is currently successfully developing production in the Rakovski Industrial Zone. “This is one of the largest manufacturers in the region and we are very proud to have such strong Korean presence here,” he said.

This year marks the 60th anniversary of KOTRA’s founding, which saw a series of meetings between local and Korean companies to promote overall economic development.

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