On 11 June 2024, a Turkmen-Korean business Forum was held in Ashgabat with the participation of the National Leader of the Turkmen people, Chairman of the Halk Maslahaty Gurbanguly Berdimuhamedov and President of the Republic of Korea Yoon Suk Yeol.
More than 200 representatives of the public and private sectors took part in the forum. The participants included representatives of ministries, departments, financial, banking and business structures of both countries.
Opening the meeting, the National Leader of the Turkmen people noted that over the past period, Turkmen-Korean cooperation has significantly intensified.
As of today, Turkmenistan and South Korea have signed 105 agreements across various sectors, including 26 at the state and government level and 79 between departments.
There are 13 enterprises registered in Turkmenistan with the participation of the Korean capital.
Korean companies are currently involved in 14 investment projects in Turkmenistan, with a total value surpassing US $ 11 billion. They include:
- construction of a sulfur gas purification plant at the Galkynysh field;
- construction of a gas chemical complex for the production of polyethylene and polypropylene in Kiyanli;
- modernization of the Turkmenbashi complex of oil refineries;
- purchase of 1,630 units of buses and 300 units of passenger cars-taxis of the Hyundai brand.
- Construction of two cargo ships continues at the Balkan Shipbuilding and Ship Repair plant with the participation of Koryo Shipbuilding Industry Technology Co., Ltd.