BAKU, Azerbaijan, September 29. Turkmen President Serdar Berdimuhamedov met with Daewoo Engineering & Construction President Lee Kang-seok yesterday in Ashgabat to discuss bilateral economic cooperation.
This was reflected in a press release published by the press service of the Turkmen government. The meeting took place during celebrations marking the 35th anniversary of Turkmenistan’s independence. Lee Kang-seok arrived in Turkmenistan to attend the events.
According to the report, the sides discussed the development of Turkmen-Korean relations, including the role of South Korean companies in bilateral economic cooperation.
Serdar Berdimuhamedov noted that Turkmenistan attaches importance to expanding cooperation with South Korea and highlighted the long-term nature of bilateral ties.
The president also noted the contribution of South Korean companies to Turkmenistan’s economy through their participation in major projects in the country’s gas-chemical industry.
Lee Kang-seok expressed appreciation for the trust placed in Daewoo Engineering & Construction and said he would work to further develop the company’s long-term partnership with Turkmenistan.
The Daewoo E&C president also highlighted the importance of Berdimuhamedov’s state visit to South Korea and his participation in the first Central Asia-Republic of Korea Summit.
The meeting took place shortly after Lee Kang-seok’s appointment as president of Daewoo Engineering & Construction, according to the press service.
For reference, Daewoo Engineering & Construction has rapidly expanded its presence in Turkmenistan, making the country one of its key markets in Central Asia. In 2025, the company signed a $784 million contract with the state concern Turkmenhimiya to design and build a mineral fertilizer complex at the Turkmenabat Chemical Plant.
The facility is expected to have an annual production capacity of 350,000 tons of superphosphate and 100,000 tons of ammonium sulfate, with construction scheduled for completion in 2028-2029. The project represents Daewoo E&C's first major contract in Central Asia, and the company has said it intends to use it as a platform for expanding into additional petrochemical, fertilizer and infrastructure projects across the region.
