President of Turkmenistan Serdar Berdimuhamedov received on Monday, 29 May, the founder and Chairman of the Management Board of Daewoo Engineering & Construction Co., Ltd. (Korea), Jung Won-ju.
President Serdar Berdimuhamedov stressed that Turkmenistan attaches great importance to the further strengthening of friendly relations with Korea.
“Our countries cooperate constructively in the political and diplomatic spheres, the fruitful nature is inherent in the long-term ties in the trade and economic sector and the cultural and humanitarian field. Recently, the inter-parliamentary dialogue has also received new incentives, contributing to the development of interstate relations in general,” the President noted.
The chemical industry, where Turkmenistan is interested in introducing the latest achievements of science and technology, was identified as one of the relevant vectors of partnership. New prospects are also opening up for the intensification of investment activities.
In particular, Turkmenistan is willing to consider the proposals of Korean partners for the implementation of chemical industry projects, related to the design and construction of facilities for the production of phosphorus, ammonia and urea.
At the same time, Turkmenistan is interested in applying the Korean experience in the construction and management of “smart” cities, the use of high technologies. Korea’s experience in the field of renewable energy sources is also interesting.
In addition, Turkmenistan is ready to discuss new areas of cooperation in the oil and gas industry.
At the end of the meeting, the sides expressed confidence that mutually beneficial bilateral business cooperation will continue to develop successfully on a long-term basis.
According to the Korea Herald, Daewoo Engineering & Construction announced Friday that Jungheung Group Vice Chairman Jung Won-ju will become chairperson of the company.
Jungheung Group is the largest shareholder of Daewoo E&C with a controlling 50.75 % stake after completing the acquisition process last year.
As chairman of the nation’s largest construction company, Jung will concentrate on locating untapped business possibilities abroad that may one day turn into fresh development engines for the company.
Prospects for expanding mutually beneficial cooperation were also discussed during the meeting of Chairman of Daewoo Engineering & Construction Co., Ltd. Jung Won-ju with the National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan Gurbanguly Berdimuhamedov.
The largest Korean companies have been successfully operating in the Turkmen market for a long time in the transport, gas, chemical spheres, etc. Passenger cars and passenger buses of the world-famous Hyundai brand are regularly delivered to Turkmenistan, important joint projects are being implemented in various fields.
Transport and logistics cooperation is also reaching a new level, in particular, taking into account the importance of the International Seaport of Turkmenbashi as the largest transit hub in international cargo transportation.
“Currently, Turkmenistan is implementing programs for the modernization of the national economy, its development through diversification and the implementation of large-scale production projects. I believe that there is a good opportunity to expand our cooperation in new directions,” Gurbanguly Berdimuhamedov stressed.
In particular, the prospects of implementing the experience of leading Korean developers of the smart city design, construction and management technologies were noted.
The opening ceremony of the first stage of the Arkadag smart city is currently being prepared in Turkmenistan.
The Turkmen side is also interested in exploring the experience of Korea in the field of environmental protection, ecology, the introduction of energy-saving technologies and renewable energy. The possibility of discussing new areas of cooperation in the oil and gas sector was also emphasized.
Turkmenistan views Korea as one of its top economic partners, with whom it hopes to develop ties in the long run and it is awaiting ideas from the Korean side in this respect, the Halk Maslahaty said. ///nCa, 30 May 2023