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South Korean money pouring into Turkey

Infrastructure, acquisitions and joint projects boom on bilateral trade deal

Turkish President Recep Tayyip Erdogan passes through the Eurasia Tunnel under the Bosporus after its opening ceremony on Dec. 20. SK Engineering and Construction was among the companies that built the 5.4km tunnel connecting Europe and Asia.   © Anadolu Agency

ISTANBUL -- From building bridges and solar plants to snapping up cinema chains, South Korean companies are doing a lot more business in Turkey since a free trade agreement took effect in 2013.

In mid-March, a consortium led by SK Engineering & Construction won a contract to build the world's largest suspension bridge, in western Turkey. It beat out rival bidders from Japan, China and Italy in a build-operate-transfer arrangement, a type of infrastructure contract under which companies build and operate a facility before handing over its ownership. The construction costs will be recovered through tolls.

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