Turkmen-Korean Business Forum Held in Seoul with Participation of the Head of Turkmenistan and the Prime Minister of Korea
On September 15, on the sidelines of the first "Central Asia – Republic of Korea" Summit in Seoul, a Turkmen-Korean business forum, attended by President of Turkmenistan, Serdar Berdimuhamedov, Prime Minister of the Republic of Korea, Han Seung-soo, and executives from leading companies of both nations took place. Participants reviewed the results of their economic partnership and held detailed discussions on promising projects in high-tech sectors, energy, infrastructure, and the electric power industry.
During a preliminary meeting, Prime Minister Han Seung-soo expressed gratitude to the Turkmen side for facilitating the safe evacuation of Korean citizens from Iran via Turkmen territory. The head of the Korean government highly valued the contribution of joint projects to the economy—ranging from the gas-chemical complex in Kiyanly to the construction of a phosphate fertilizer plant in Turkmenabat and LNG processing projects. In turn, President Serdar Berdimuhamedov noted that cooperation between Ashgabat and Seoul is entering a new phase, emphasizing the significant contribution of Korean business to the country's industrialization.
The participants discussed, among other things, ways to increase the involvement of South Korean companies in projects for the production of fertilizers and gas-chemical products based on the high-tech processing of natural gas. Daewoo Engineering & Construction, Hyundai Corporation, and Koryo Shipbuilding Industrial Technology shared information on their key projects and areas of cooperation.
The parties affirmed their commitment to expanding cooperation in key areas. In the energy and petrochemical sectors, the focus is on the efficient use of abundant natural gas reserves to implement high-value-added projects, including fertilizer production and gas chemistry. In the water and forestry sectors, plans are in place to modernize water infrastructure—including projects to upgrade the Karakum Canal—and to implement smart resource management technologies.
Furthermore, the partnership encompasses the transport, logistics, and shipbuilding sectors—ranging from the development of Caspian ports and joint vessel construction to the transition toward eco-friendly transport and smart logistics. High-tech cooperation includes the production of fiber-optic cables and steel pipes, the maintenance of gas facilities, and the implementation of "smart city" concepts.
A tangible outcome of the forum was the signing of 14 memoranda of understanding covering water resource management, telecommunications, transport, energy infrastructure, metallurgy, and academic exchanges between universities in both countries. The South Korean government reaffirmed its commitment to providing comprehensive support to Korean companies participating in new industrial projects in Turkmenistan.
