Turkmenistan, Ashgabat, August 17 /Trend H. Hasanov /
Turkmen President Gurbanguly Berdimuhamedov instructed the relevant structures, in regard to the issue of opening Turkmenistan's Embassy in South Korean capital of Seoul, Turkmen government's report said on Saturday.
"This will be an important event in the history of fruitful bilateral relations, which in recent years have reached a qualitatively new level and have significantly enriched in content," the report cited the Turkmen President's words, said by him at the government meeting.
Diplomatic relations between the two countries were established in February 1992.
The government's report also said that the embassy of South Korea was opened in Turkmenistan in January 2007. Turkmen President's state visit to Seoul in November 2008 gave an impetus to the interstate dialogue.
A number of major South Korean companies are operating in Turkmenistan.
In particular, LG International and Hyundai Engineering Co. LTD received major projects in the oil and gas sector in Turkmenistan.
A project worth $534 million is being implemented at the oil refinery in Turkmenbashi city with the efforts of these companies. The project should be put into operation in May 2015.
LG International and Hyundai Engineering Co. LTD also joined the Galkinish hydrocarbon field's development on service terms for $ 1.2 billion. The Galkinish field has the largest natural gas reserves in the country.
In November 2012 Korea Gas Corporation (Kogas) of the South Korea participated in a presentation in Ashgabat, during which the issues concerning building of bilateral potential were discussed.
The current status of Turkmenistan-Afghanistan-Pakistan-India (TAPI) project, and in particular the proposal Kogas to Turkmenistan regarding this project were included into the discussed issues.