On October 15, Korean Commerce Ministry announced that Minister of Commerce, Industry and Energy Chung Sye-Kyun will hold a discussion with Azerbaijan Minister of Industry and Energy, Natiq Aliyev, and seek an advancement of joint oil development projects, strengthening of economic cooperation, as well as business ties.
The Korean National Oil Company (KNOC) noted its desire to purchase a share of stake of the State Oil Company of Azerbaijan (SOCAR) in Inam project.
KNOC also offered the SOCAR a joint participation in the projects of Kazakhstan and Turkmenistan. Particularly, it is related to the construction of pipelines. The base for the project implementation can be placed in Baku.