14 MOUs signed covering natural gas-based energy and plant projects; shipbuilding and transport cooperation also on the agenda
South Korea and Turkmenistan agreed Tuesday to deepen cooperation in energy and plant construction — including cargo ship building and smart city development — and to expand collaboration in shipbuilding, transportation and logistics tied to infrastructure development.
Prime Minister Han Seong-sook made the announcement at the Korea-Turkmenistan Business Forum held at The Grand Lotte Hotel Seoul in Jung-gu. "I expect the cooperation that began with cargo ship construction to expand into modernizing Caspian Sea ports, eco-friendly transportation and smart logistics, and for South Korea's digital technology to be applied to smart city development," she said.
The forum drew about 180 government officials and business representatives from both countries, including Han, Turkmenistan President Serdar Berdimuhamedov and Korea International Trade Association Chairman Yoon Jin-sik. Discussions centered on expanding energy and plant cooperation based on Turkmenistan's natural gas resources, as well as shipbuilding and transport cooperation linked to the country's transportation and logistics infrastructure development.
Participants particularly discussed ways to increase South Korean companies' involvement in fertilizer and gas chemical plant projects related to the high-value processing of natural gas. Daewoo Engineering & Construction, Hyundai Corporation and Koryo Shipbuilding Industrial Technology shared their key projects and directions for cooperation.
"Turkmenistan has built a track record of cooperation with South Korea in energy and chemical plant sectors on the strength of its abundant natural gas resources, and has recently been broadening the scope of that partnership into shipbuilding, transportation and logistics," Han said.
She added that she hoped to "expand the scope of cooperation into petrochemicals and the water industry, contributing to Turkmenistan's industrial advancement and deepening our mutually beneficial partnership."
The two sides also agreed to expand cooperation on talent development. Han said sustained economic cooperation requires not only cultural exchange through the King Sejong Institute in Ashgabat but also the cultivation of skilled workers. "We will expand university exchanges and technical education field training to actively support the development of future core talent, and will help Turkmenistan's young people directly operate and lead the infrastructure built by Korean companies," she said.
Han said that if the two countries "walk side by side and continue to broaden the path of cooperation, strong opportunities will emerge for both of us along the way." She said President Berdimuhamedov had pledged special attention and support for South Korean companies' views, and that the South Korean government would "spare no effort in supporting bilateral cooperation and the new challenges taken on by our business communities."
She said she hoped South Korean companies' expansion into energy, infrastructure, transportation and logistics would "deepen substantive cooperation between the two countries."
Han also expressed gratitude to Turkmenistan for helping South Korean nationals and their families evacuate safely through the country from Iran.
The two sides signed 14 memorandums of understanding covering the modernization of the Karakum Canal, transportation and transit, fiber-optic cable production, steel pipe production and gas facility maintenance.
The government said it plans to strengthen follow-up support to ensure that cooperative projects discussed at the forum translate into tangible export and investment outcomes, while also working to resolve difficulties faced by South Korean companies operating in Turkmenistan.
oskymoon@heraldcorp.com