BAKU, Azerbaijan, September 16. Turkmenistan has 17 investment projects involving South Korean companies, with a total value exceeding $12 billion.
This was stated by Turkmen President Serdar Berdimuhamedov at the Turkmen-Korean high-level business forum in Seoul, according to the Turkmen government press service.
The projects include the construction of a natural gas desulfurization plant at the Galkynysh gas field and a polymer plant in Kiyanly with the participation of LX International Corp. and Hyundai Engineering Co., Ltd.
SK Networks participated in the installation of a road traffic safety system and the provision of consulting services in Ashgabat.
A number of other investment projects are currently being implemented in Turkmenistan with the participation of Daewoo Engineering & Construction Co., Ltd., Koryo Shipbuilding Industry Technology Co., Ltd., Korea Meditech Co., Ltd. and other South Korean companies.
According to the Turkmen president, negotiations are also underway on prospective projects, with their implementation expected to begin in the near future.
Meanwhile, Turkmen President Serdar Berdimuhamedov is paying a state visit to South Korea and taking part in the first Central Asia-Republic of Korea Summit in Seoul on September 16-17. The summit brings together the leaders of South Korea and the five Central Asian countries - Kazakhstan, Turkmenistan, Uzbekistan, Kyrgyzstan and Tajikistan - marking the first elevation of the Korea-Central Asia dialogue to the leaders’ level. Seoul has said the summit is intended to deepen regional cooperation and produce practical results for the participating countries.
For Turkmenistan, the summit is taking place alongside a state visit and bilateral negotiations with the South Korean leadership. During South Korean President Yoon Suk Yeol's state visit to Turkmenistan in June 2024, the two countries signed a memorandum aimed at strengthening cooperation in areas including the economy and investment, culture, education, communications and human exchanges. Turkmenistan also expressed support for Seoul's K-Silk Road initiative, which South Korea presented as its comprehensive strategy for expanding cooperation with the five Central Asian countries.
The current summit is therefore taking place against the backdrop of an effort by Seoul to elevate its cooperation with Central Asia to the leaders' level.
