South Korean Presidential Office: ”Plant cooperation with Turkmenistan...hoping for $6 billion order”

South Korea's presidential office announced that President Yoon Seok-yeol's state visit to Turkmenistan will help advance plant cooperation between the two countries, and that orders worth about $6 billion are expected.
He also evaluated that the systemic foundation for revitalizing trade and investment with Turkmenistan has been established.
At a press conference held at the Yildiz Hotel Press Center in Shigabat, Park spoke about the economic achievements of President Yoon's visit. He said the visit will strengthen mutually beneficial economic cooperation.
This suggests that the basis for Korean companies to participate in large-scale energy plant projects in Turkmenistan has expanded. Hyundai Engineering has
The company plans to sign a memorandum of understanding (F/A) for the fourth desulfurization facility in the Galkynish gas field. The company and Turkmenistan State Chemical Company are working on the third phase of normalization of the Canyon Polymer Plant.
The two-stage cooperation agreement is also underway. Daewoo E&C will sign a 3 trillion won business agreement with Turkmenistan in 2022 to build a fertilizer and ammonia plant.
The company is exploring new markets, and expects to win orders worth about $6 billion, including a fertilizer plant construction project for which Daewoo Engineering & Construction is currently bidding, Park said.
However, the scale of the orders for individual projects was not disclosed.
"For three projects (two from Hyundai Engineering and one from Daewoo Engineering & Construction), it is difficult to disclose details as bidding is currently underway for individual companies."
Through this state visit, the economic cooperation between the two countries has progressed to a comprehensive stage.
The signing of the Trans-Industry and Policy Framework (TIPF) is the third such achievement in Central Asia. It will strengthen the two countries' cooperation in the fields of energy and industry, trade and economy, and green and digital economy through future-oriented and comprehensive cooperation.
It is expected that economic relations will be further strengthened. In addition, through the signing of a Memorandum of Understanding (MOU) on the revitalization of the Intergovernmental Joint Cooperation Committee, it is expected that the two countries will further strengthen their cooperation in areas such as economy, trade, science, technology, and culture.
Exchanges in the fields of trade and investment will expand. A tripartite MOU between the Export-Import Bank of Japan, the Trade Insurance Corporation of Turkmenistan, and the Foreign Economic Bank of Turkmenistan will build a financial cooperation foundation to help Korean companies win more orders.
They also agreed to expedite discussions on investment guarantee agreements and customs mutual assistance agreements for each company. Park said, "Financial support for business orders to Turkmenistan will further increase our competitiveness in receiving orders.
President Yoon's visit to Turkmenistan led to the signing of eight MOUs, including those on the TIPF, revitalization of the Intergovernmental Joint Cooperation Committee, infrastructure and new urban areas, and the establishment of a new city.
The agreements include a memorandum of understanding on city cooperation, cooperation between financial institutions, desulfurization equipment for the Galkinish gas field, and a cooperation agreement on the normalization of the Canyon Polymer Plant.
, successfully signed an MOU with the Oncology Center and Emergency Medical Support Center of the Ministry of Health and Medical Industry of Turkmenistan.