SEOUL/ISTANBUL, November 2, 2026 — Turkish President Recep Tayyip Erdogan has identified South Korea as a potential partner for Turkey’s planned Sinop nuclear power plant, but Ankara has not announced a final contract or investment decision. In a written interview published by Yonhap News Agency on Monday, Erdogan said Turkey was continuing to assess the project’s technical and economic conditions and would weigh generation costs, financing and the benefits for the Turkish economy.
The remarks came as Erdogan began a state visit to Seoul scheduled to run through November 4. Turkey’s Directorate of Communications said the two presidents were due to hold official talks on Tuesday, November 3, with a range of agreements expected to be signed. The Sinop project is one of several areas in which Ankara wants to turn longstanding political ties with Seoul into commercial and technology partnerships.
Erdogan described South Korea as an important potential collaborator in Turkey’s plan to build its second nuclear power plant at Sinop on the Black Sea coast. He said Ankara and Seoul were holding negotiations and that Turkey recognised South Korea’s experience in nuclear energy. The comments are a signal of interest, not confirmation that a Korean company has been selected to build or finance the facility.
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The two governments signed a memorandum of understanding on nuclear-energy cooperation during South Korean President Lee Jae Myung’s state visit to Turkey in November 2025. According to the Yonhap interview, the agreement covers reactor technology, site assessment, licensing, financing and business models. Turkey has since conducted preliminary feasibility studies with South Korea’s state-run Korea Electric Power Corp. (KEPCO), Erdogan said, while continuing to evaluate the project’s technical and economic conditions.
The president also stressed that Turkey was considering contacts with other countries and would examine the available options in line with its national interests. He said the final decision would take account of the cost of power generation, financing arrangements and the potential contribution to Turkey’s economy. Those conditions leave open the question of which supplier, financing structure or ownership model Ankara will ultimately choose.
Sinop is intended to add nuclear generation to Turkey’s electricity system and diversify the country’s long-term energy mix. Nuclear plants can provide steady electricity with low direct operational carbon emissions, but they require substantial upfront investment, long construction periods and strict safety, licensing and waste-management arrangements. The economics depend on the cost of capital, the design selected, construction performance and the price at which electricity can be sold over decades.
Those factors help explain why Erdogan singled out financing and generation costs rather than presenting the project as a settled deal. A partner could contribute technology, engineering, project management, export credit or a broader financing package, but the commercial arrangement would need to be negotiated. The memorandum of understanding creates a framework for cooperation; it is not, by itself, proof that a binding construction contract or final investment decision has been reached.
For Turkey, the choice of partner also has implications beyond the power station itself. A nuclear project can shape long-term industrial relationships, training, supply chains and maintenance arrangements. If South Korean firms are involved, the cooperation could extend into engineering services, component manufacturing and technology development, although the interview did not specify which companies would take part or what share of the project they might receive.
South Korea has experience exporting nuclear technology and building overseas power projects, while Turkey offers a large domestic market and a location linking European and Asian trade routes. Those complementary strengths form the commercial case Erdogan presented, but the potential advantages will need to be tested against project cost, delivery risk and the terms of any financing.
The nuclear discussion sits within a wider Turkish effort to expand cooperation with South Korea in advanced technology and industry. Erdogan said the two countries could deepen work in semiconductors, robotics, artificial intelligence, defence systems and other technologies. He also pointed to possible cooperation involving Turkey’s PD170 turbodiesel aircraft engine and said he saw opportunities in unmanned aerial vehicles, engine technologies and electronic systems.
These are areas of interest rather than a list of completed agreements. Erdogan called for investment and joint production, but the public interview did not set out firm contract values, delivery schedules or a detailed list of projects to be signed during the visit. The official Turkish statement said agreements would be signed to strengthen the contractual basis of bilateral relations, without specifying that a final Sinop nuclear contract was among them.
Transport and logistics are another part of the agenda. Erdogan argued that disruption to global energy markets and trade routes, including those around the Strait of Hormuz, had reinforced the need for dependable alternatives connecting Asia and Europe. He called for greater participation by South Korean companies in Turkey’s transport and logistics investments and cited plans to revive the historic Hejaz Railway as one part of Ankara’s wider connectivity ambitions.
The logistics argument reflects a broader commercial calculation: reliable transport links can reduce the exposure of trade to chokepoints and disruptions, but new routes need to be economically viable and supported by sustained demand. The interview did not identify specific Korean-backed rail or port contracts, so any such participation remains a prospect to be negotiated.
Erdogan also called for a more balanced trading relationship. He said Turkey exported about US$1.14 billion in goods to South Korea in 2025 while importing approximately US$10.26 billion. The two governments have set a target of $15 billion in bilateral trade, and Erdogan said Ankara wanted to expand investment, joint production and cooperation that would help narrow the imbalance.
The figures show the challenge facing the target: expanding trade volume is not the same as changing its composition. Turkey wants more opportunities for its manufacturers and exporters, while South Korean companies are being encouraged to invest in production and infrastructure inside Turkey. Nuclear energy could become one part of that relationship, but its long development timeline means it would not quickly close the existing trade gap.
The two countries will mark the 70th anniversary of diplomatic relations in 2027. Erdogan described their relationship as rooted in historical friendship and said the visit should produce practical steps that strengthen cooperation. The immediate test will be whether the political commitment leads to projects with clear financing, responsibilities and timelines.
Several questions remain open. The interview did not identify a reactor design, a construction start date, a financing package or the final commercial structure for Sinop. It also did not establish whether KEPCO would be the lead contractor, whether other Korean firms would participate or how any future project would divide construction, operation and long-term maintenance responsibilities.
Those details matter because nuclear projects require regulatory approval, a capable operator, a skilled workforce and long-term arrangements for fuel, waste, security and decommissioning. Financing terms are especially important: a project may offer strategic value while still placing substantial cost or risk on the state, the utility or electricity consumers. Turkey’s own assessment of generation costs and economic benefits will therefore be central to any final decision.
The Seoul meetings on Tuesday could clarify which agreements are ready for signature and whether the nuclear talks will move into a more defined phase. Unless the governments announce a binding agreement with clear terms, the accurate description remains that South Korea is being considered as a potential partner for the Sinop nuclear project.