Turkmenistan, Ashgabat, Oct. 13 / Trend H. Hasanov /
Turkmen President Gurbanguly Berdimuhamedov signed a decree to open an embassy in Seoul to further develop bilateral relations between Turkmenistan and the Republic of Korea, the Turkmen government said on Saturday.
The diplomatic relations between the two countries were established in February 1992.
The South Korean embassy was opened in Turkmenistan in January 2007. Several large South Korean companies are successfully working in the Caspian country.
In particular, LG International and Hundai Engineering Co.LTD got large projects in the oil and gas sector in Turkmenistan.
The companies are implementing a project worth $534 million at Turkmenbashi refinery. It should be completed in May 2015.
LG International and Hundai Engineering Co.LTD also completed a significant project worth $ 1.2 billion on service terms for the development of Galkynysh hydrocarbon deposit, having the largest natural gas reserves.
Korea Gas Corporation (Kogas) took part in the presentation in Ashgabat in November 2012.
The current status of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) project, as well as Kogas's proposal regarding this project were discussed.