South Korea, Turkmenistan Agree to Expand Economic Cooperation in Energy, Infrastructure and Logistics
Seoul, The Gulf Observer: South Korean President Lee Jae-myung held a summit with Turkmenistan President Serdar Berdimuhamedow on September 15, agreeing to significantly expand bilateral economic cooperation in energy, industrial plants, transportation and logistics.
The two leaders held talks at the Blue House, where they discussed ways to deepen economic ties by combining Turkmenistan’s abundant natural resources and strategic geographical position with South Korea’s industrial and technological capabilities.
President Lee expressed particular appreciation for Turkmenistan’s assistance in facilitating the safe evacuation of South Korean nationals and their families from Iran amid the deteriorating security situation in the Middle East.
“I am deeply grateful for the special consideration you extended so that our citizens and their families staying in Iran could evacuate safely through Turkmenistan,” Lee said, referring to Turkmenistan’s support during the regional crisis.
He said the assistance demonstrated the strong trust and friendship between the two countries.
Lee also outlined a vision for developing high-value-added industries and creating employment by linking Turkmenistan’s natural resources with South Korean technology and industrial expertise.
“Korea will work together so that Turkmenistan’s abundant resources lead to high value-added industries and jobs, and so that the land connecting the Caspian Sea and Central Asia becomes a new gateway for logistics and trade,” he said.
Following the summit, South Korea and Turkmenistan signed 13 agreements and memorandums of understanding covering investment promotion and protection, infrastructure development, the chemical industry, industrial plants, rail transportation and water resource management.
The agreements are expected to provide stronger institutional support for South Korean companies seeking to participate in projects in the Turkmen market.
The two countries also agreed to promote greater participation by Korean companies in major oil, gas and chemical projects, as well as construction, transportation and logistics initiatives.
Cooperation in water resource management was also highlighted, including projects aimed at modernising the Karakum Canal, one of Turkmenistan’s key water infrastructure systems.
The agreements are intended to strengthen bilateral economic relations and create new opportunities for cooperation in strategic sectors, while laying the institutional foundation for expanded investment and business engagement between South Korea and Turkmenistan.
