Seventeen investment projects involving South Korean companies, with a total value exceeding $12 billion, have been registered in Turkmenistan. Turkmen President Serdar Berdimuhamedov made the statement Tuesday at a high-level Turkmen-South Korean business forum in Seoul, according to Turkmen state media.
The President noted that South Korean companies have accumulated significant experience operating in Turkmenistan. He said a natural gas desulfurization plant and a polymer plant in Kiyanly were built with the participation of LX International Corp. and Hyundai Engineering Co., Ltd. SK Networks is currently involved in installing a road traffic safety system and providing consulting services in Ashgabat.
According to the report, a number of investment projects involving Daewoo Engineering & Construction Co., Ltd., Koryo Shipbuilding Industry Technology Co., Ltd., Korea Meditech Co., Ltd. and other South Korean companies are currently being implemented in Turkmenistan. The sides are also holding talks on future projects that are expected to enter the implementation stage in the near future.
Turkmenistan is interested in attracting South Korean technologies, investment and management expertise to the oil and gas, chemical, energy and transport sectors.
The development of transport and logistics supply systems was also identified at the forum as a promising area of cooperation. Turkmenistan is ready to support the participation of South Korean companies in infrastructure projects to develop international transport corridors connecting Central Asia with the Caspian region and other destinations.
The forum also highlighted opportunities for cooperation in the chemical industry. New projects are planned to produce mineral fertilizers, petrochemical products and other industrial goods.
President Serdar Berdimuhamedov also identified medicine and health care as a promising area of cooperation, noting that South Korean companies are currently participating in the development of a modern medical cluster in the city of Arkadag.
Serdar Berdimuhamedov stressed Turkmenistan’s readiness to create all necessary conditions and provide comprehensive support to South Korea’s business community in implementing promising joint projects.
The Turkmen President is on a state visit to South Korea and is attending the first Central Asia-South Korea Summit.
