On 27 March 2024, Gurbanguly Berdimuhamedov, National leader of Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan, met with South Korean business leaders in Ashgabat, TDH reports.
The discussions focused on the current state and promising avenues for expanding bilateral cooperation.
Hyundai Engineering Co., Ltd. President and CEO Hong Hyong Song opened the meeting by delivering greetings from the Speaker of South Korea’s National Assembly and the head of the Korean side’s Turkmen-Korean Friendship Group.
Berdimuhamedov praised the long-standing and successful partnership with leading Korean companies, highlighting their contributions in sectors like petrochemicals, gas processing, motor vehicles, and more. He noted that Korean-made cars make up a significant portion of Turkmenistan’s public transportation fleet.
Gas production and fuel energy
Arkadag Berdimuhamedov noted the success of joint projects with Korean partners, including a gas desulfurization plant at Galkynysh field, high-octane gasoline facilities at the Turkmenbashi refinery, and a polyethylene/polypropylene plant in the Balkan province.
He then proposed new areas for cooperation:
• TAPI Gas Pipeline: Expediting construction of the Trans-Anatolian Pipeline (TAPI).
• Galkynysh Field Development: Participating in the fourth phase of development for the Galkynysh gas field.
• Education Initiative: Establishing a Korean language training center for Turkmen youth.
Berdimuhamedov emphasized the value of long-term partnership with Korea, particularly considering Turkmenistan’s ambitious plans for gas production and processing. He stressed the importance of using innovative technologies in upcoming projects.
Chairman of the Halk Maslahaty commended many years of experience in Turkmen-Korean business cooperation and new prospects for the development of long-term partnership, taking into account big plans related to gas production and processing.
Noting that many world-famous companies operate in Turkmenistan, the National Leader of the Turkmen people emphasized that an essential requirement for the construction of facilities is their compliance with high quality standards and environmental standards. And in this regard, Korean companies have proved themselves to be responsible partners.
In turn, representatives of the Korean business community stressed that the energy and chemical resources available in the country have a high degree of suitability for processing. It is also an important factor for effective joint activities.
The Korean side noted that Turkmenistan’s proposals will be carefully studied and appropriate agreements will be reached on them.
Shipbuilding industry
There are also ample opportunities for productive partnership in the shipbuilding industry.
Earlier, the Balkan Shipbuilding and ship repair plant has signed a contract with Koryo Shipbuilding Industry Technology Co., Ltd on the joint construction of two dry cargo vessels with a capacity of 6,100 tons.
According to the new standard, re-equipment and measurement work are underway in the production workshops and on shipyard’s sites. Measures are being taken to obtain certification for the Balkan shipyard according to international ISO standards. The issues of training qualified specialists are also being considered.
Transport and logistics
Among the strategic areas of the partnership are transport and logistics, cargo transportation. There are plans to launch direct flights between Turkmenistan and Korea.