Turkmenistan is ready to create all necessary conditions and provide comprehensive support to the Korean business community in implementing promising joint projects across the country. Multi-billion-dollar initiatives involving Korean investment are already underway, with several more set to launch in the near future. This was highlighted in an address by President Serdar Berdimuhamedov at the high-level Turkmen-Korean Business Forum held in Seoul on 15 September 2026.
According to the Head of State, 17 investment projects involving Korean companies are currently registered in Turkmenistan, with a total value exceeding US$ 12 billion.
“A number of investment projects are currently being implemented in Turkmenistan with the participation of Daewoo Engineering & Construction Co., Ltd., Koryo Shipbuilding Industry Technology Co., Ltd., Korea Meditech Co., Ltd., and other Korean companies. Negotiations are also underway on prospective projects scheduled to launch shortly,” he announced.
Berdimuhamedov emphasized the extensive track record of Korean companies operating in Turkmenistan. With the participation of LX International Corp and Hyundai Engineering Co., Ltd., a natural gas desulfurization plant was constructed at the Galkynyş gas field, alongside a polymer plant in Kiyanly.
Additionally, traffic safety systems and consulting services were implemented in Ashgabat with the participation of SK Networks.
Furthermore, the majority of Turkmenistan’s public transport fleet consists of buses and passenger vehicles manufactured in South Korea.
“We view the Republic of Korea not only as a vital technological and investment partner, but also as a nation possessing advanced expertise in industrial modernization, digitalization, and high-tech manufacturing. Turkmenistan, in turn, possesses abundant natural resources, a stable energy base, a favorable geographical location, and vast opportunities for large-scale investment projects,” Berdimuhamedov stated.
He added that Turkmenistan is interested in attracting Korean technologies, investments, and managerial expertise into gas chemicals, chemicals, energy, transport, and other sectors.
The President paid special attention to transport and logistics cooperation, noting Turkmenistan’s potential to strengthen its role as an important Eurasian transport and logistics hub connecting Central Asia with the Caspian region and international transport corridors.
“We are ready to consider the participation of Korean companies in relevant infrastructure development projects,” Serdar Berdimuhamedov said.
In the chemical industry, Berdimuhamedov pointed to favorable opportunities for launching new projects to produce mineral fertilizers, petrochemical products, and other industrial goods.
Additional opportunities, he noted, exist in medicine and healthcare. Korean companies are already participating in establishing a modern medical cluster in Arkadag, while further cooperation could extend to the implementation of medical technologies and specialist training.
South Korea Outlines Areas of Cooperation
In her address, Prime Minister of the Republic of Korea Han Seong-sook outlined three core areas of bilateral economic partnership: the construction of energy and infrastructure facilities, shipbuilding and transport logistics, and joint workforce training.
Speaking on education and human resource development, the Prime Minister highlighted the role of cultural and educational exchanges, including initiatives through the King Sejong Institute in Ashgabat.
She noted that both sides could expand coordination in technical training through university partnerships, knowledge sharing, and practical experience exchange. Prime Minister Han Seong-sook emphasized that the Government of the Republic of Korea stands ready to support new business initiatives.
The next speaker, Chairman of the Korea International Trade Association (KITA) Yoon Jin-shik, expressed confidence that combining the advanced industrial technologies and project execution expertise of Korean companies with Turkmenistan’s abundant natural resources and immense growth potential will yield high performance for both nations.
Over the years, both countries have built a solid foundation for cooperation across energy, industry, construction, transport, and infrastructure. Interaction is steadily expanding into shipbuilding, healthcare and medicine, digital technologies, and environmental protection.
In 2019, KITA and the Chamber of Commerce and Industry of Turkmenistan jointly established the Korea–Turkmenistan Business Council, which has served as a key vehicle for fostering direct contacts between the business communities of both nations.
During the forum, President Serdar Berdimuhamedov was awarded a Badge of Honor and a special commemorative document by KITA in recognition of his contribution to strengthening friendly ties, mutual trust, and economic cooperation between Turkmenistan and the Republic of Korea.
14 MOUs Signed for New Projects
According to a press release issued by the South Korean Government, 14 Memoranda of Understanding were signed following the business forum. The agreements cover the modernization of the Karakum Canal, transport and shipping, fiber-optic cable manufacturing, steel pipe production, gas infrastructure maintenance, and other sectors.
These agreements are expected to establish a framework for concrete cooperation in water resources management, transport, communications, manufacturing, energy equipment, and academic exchanges.
The Government of the Republic of Korea also reaffirmed its readiness to support Korean companies participating in Turkmen industrial construction projects, including fertilizer production and gas chemicals. Special attention is being placed on initiatives aimed at producing high-value-added natural gas products.
Both sides intend to continue identifying new projects that combine South Korea’s technological and industrial capabilities with Turkmenistan’s resource and infrastructure potential. /// nCa, 16 September 2026 (based on materials from TDH and the official website of the Government of the Republic of Korea)