Bulgaria may begin exporting robots to South Korea

Bulgaria may begin exporting robots to South Korea

Bulgaria may begin exporting robots to South Korea

Article by Money.bg

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Bulgaria may well be a contributor in the high-tech sector for South Korea, notably, the country may start exporting robots to the said destination. On current form, negotiations concerning such export deals are in the pipeline by the Plovdiv manufacturer Milara International.

This got confirmed by the executive of Trakia Economic Zone (TEZ) Eng. Plamen Panchev.

“A memorandum of cooperation has been placed in the education and business area with the free economic zone in the South-Korean city of Daegu. They are in the business of starting an office here so we may invite Bulgarian businesses also to invest in Korea”, he made clear in his interview for ВlооmbеrgТV Bulgaria.

As Panchev says, as the estimations go, trade between both countries will add up to EUR 400M on an annual basis, however, Korean companies are still unfamiliar with the Bulgarian business.

Speaking of TEZ development, Plamen Panchev called to notice that this is where in 2019 investments are being placed in the automotive and the processing industries.

“Some businesses in the automotive industry are scaling up two-fold and three-fold. Investors are happy with the achieved results”, he admits.

By his own admission, Panchev says Bulgaria is well-prepared to attract some larger-scale investors.

“For the recent 3 to 4 years, we have come up to assert we are prepared to supply larger-scale investors and infiltration. Given our best efforts specifically put in the infrastructure, training and education, make us sure we would live up to the demand of the most exacting investor,” he makes sure.