By Mariin Ratnik
Copyright trend
BAKU, Azerbaijan, September 20. Tallinn hosted
Korea Export Day at the Ministry of Foreign Affairs, bringing
together Estonian companies, Korean partners, and industry experts
to explore new cooperation opportunities and share insights on
entering the Korean market, Trend reports.
The business seminar was opened by Mariin Ratnik, Deputy
Undersecretary for Economic and Development Cooperation at the
Estonian Ministry of Foreign Affairs. She noted that ties between
Estonia and Korea have grown significantly in recent years.
“We opened our embassy in Seoul in 2020 and a business center in
2023, while Korea established its embassy in Tallinn earlier this
year,” Ratnik said.
Estonian exports to Korea have increased by nearly 50 percent
over the past two years, with defense industry cooperation emerging
as a major new sector.
Ratnik highlighted the example of Korea’s aerospace and defense
company Hanwha Aerospace, which has signed cooperation agreements
with Estonian firms Milrem, Nortal, and SensusQ. Other focus areas
include timber and wooden houses, energy, maritime and
shipbuilding, biotechnology, and the food and beverage sector.
The event also featured remarks by Estonian Ambassador to Korea
Tanel Sepp, Korean Ambassador to Estonia Ileung Kim, and Enterprise
Estonia’s Head of Export Department Eva-Kristiina Ponomarjov. An
overview of Korea’s economy and business opportunities was
presented by Samsik Lee, Director General of KOTRA Helsinki.
Lee pointed to opportunities for Estonia’s timber industry,
noting that Koreans jokingly refer to their country as the
“Republic of Apartments” since more than half the population lives
in apartment blocks—many of which are now in need of
renovation.
A panel discussion on defense industry cooperation included
Hanwha Aerospace Romania Senior Vice President Peter Bae, Milrem’s
Director of Industrial Partnerships Paul Clayton, and Estonian
Defense Industry Association Cluster Manager Rene Ehasalu. The
discussion was moderated by Carmel Tellis, Deputy Head of Mission
at the Estonian Embassy in Seoul.
Participants agreed that building trust requires face-to-face
meetings and mutually beneficial partnerships rather than one-off
projects. Bae emphasized that investment can take many forms—from
product orders and joint development to direct investments or joint
ventures—and encouraged Estonian companies to collaborate with
Ehasalu stressed that long-term partnerships are key in Korea,
while Clayton compared building cooperation with Korean partners to
learning a dance—first observing and evaluating, then taking steps
toward deeper collaboration.
A separate discussion on green technologies and the energy
sector, moderated by Enterprise Estonia’s Marek Roostar, featured
Samsung C&T Senior Vice President Jung E. Kim, Fermi Energia
CEO Kalev Kallemets, and Estonian Green Technology Association CEO
Kädi Ristkok. Ristkok underlined the importance of moving beyond
pilot projects toward scalable business opportunities.
Enterprise Estonia’s Korea export advisor Soyoung Im and
business center project manager Hyejeong Yu presented upcoming
plans for 2025–2026, inviting Estonian companies interested in the
Korean market to get involved.
The day concluded with sector-specific matchmaking sessions,
where participants explored concrete business opportunities and
exchanged advice with experts from both Estonia and Korea.
