Ashgabat, Seoul to hold high-level business negotiations

Photo: Ashgabat, Seoul to hold high-level business negotiations / Turkmenistan

Ashgabat, Turkmenistan, June 12

By Huseyn Hasanov- Trend:

South Korean President Park Geun-hye will pay an official visit to Turkmenistan on June 20 within his regional tour of Central Asia for the first time, the Korean presidential press-service said on June 11.

Joint projects and opportunities will be discussed at a meeting with Turkmen President Gurbanguly Berdimuhamedov to expand the activity of Korean companies in the Turkmen market, according to the information.

"The president's upcoming visit is expected to further strengthen bilateral cooperation," according to a statement.

A number of the biggest South Korean companies are successfully operating in Turkmenistan. In particular, LG International and Hundai Engineering Co.LTD received large projects in the oil and gas sector in Turkmenistan.

A project worth $534 million, which must be completed in May 2015, is being implemented by these companies at the Turkmenbashi refinery.

LG International and Hundai Engineering Co. LTD. also completed a large project worth $1.2 billion for the development of Galkynysh hydrocarbon deposit with the largest natural gas reserves in the country, on service conditions.

It was also reported that the Korea Gas Corporation (Kogas) participated in the presentation in Ashgabat.

edited by CN

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