Dear President of the Republic of Korea, Mr. Yun Seok-yeol!

Dear guests!

Dear Forum members!

Today we are hosting the Turkmen-Korean Business Forum, and I take this opportunity to express my gratitude to the President of the Republic of Korea, Mr. Yun Seok-yeol, for participating in it and for paying special attention to building up the bilateral dialogue.

It should be noted that the forum brought together Turkmen and Korean businessmen, as well as representatives of leading companies.

As you know, Turkmenistan's cooperation with the Republic of Korea has significantly intensified over the past time. Such positive dynamics are inherent in political, diplomatic, trade, economic, cultural and humanitarian ties, which have reached a higher level and received new content. To date, 105 documents have been signed between Turkmenistan and the Republic of Korea relating to various fields, of which 26 are interstate and intergovernmental, 79 are interdepartmental. In recent years, the bilateral trade and economic partnership has also significantly strengthened, which is constructive in nature. There are 13 enterprises registered in our country with the participation of the capital of the Republic of Korea.

Currently, there are 14 investment projects in Turkmenistan with the participation of Korean companies, the amount of which exceeds 11 billion US dollars, including:

1. Construction of a sulfur gas purification plant at the Galkynyş field.

2. Construction of a gas chemical complex for the production of polyethylene and polypropylene in Kiyanli.

3. Modernization of the Turkmenbashi complex of oil refineries.

4. Purchase of 1,630 units of buses and 300 units of passenger cars-taxis of the Hyundai brand.

At the same time, the construction of two cargo ships continues at the Balkan Shipbuilding and ship repair plant with the participation of Koryo Shipbuilding Industry Technology Co., Ltd.

Dear Forum members!

Relations between Turkmenistan and the Republic of Korea are unique, fruitful cooperation continues through the Intergovernmental Turkmen-Korean Commission on Trade, Economic, Scientific and Technological Cooperation, as well as the Interparliamentary Friendship Group "Republic of Korea–Turkmenistan", which have been successfully working for many years. A similar dynamic is observed on the sidelines of the Central Asia–Republic of Korea Cooperation Forum, where important decisions were made in various fields. Active contacts are carried out not only in a bilateral format, but also within the framework of international structures, including the United Nations.

In this context, it is worth mentioning the 9th meeting of the Intergovernmental Turkmen-Korean Commission on Trade, Economic, Scientific and Technological Cooperation, which took place on June 3, 2024 in the format of a videoconference. Then the parties focused on joint work in the following areas:

– cooperation in the fields of trade and investment, chemical and oil and gas industries, shipbuilding, transport and logistics, healthcare and pharmaceutical industry, culture and education;

– establishing a constructive partnership between entrepreneurs and businessmen of the two countries;

– the holding of the Turkmen-Korean Business Forum in Ashgabat on June 11 this year, in which we are currently participating.

Dear friends!

As you know, a Memorandum of Understanding was proposed for signing between the Government of the Republic of Korea and the Government of Turkmenistan on the formation of a framework for stimulating trade and investment, which includes energy and industry, trade and investment, green and digital economy.

The parties stressed the importance of consistent constructive cooperation between the two countries in the field of energy and in this regard noted that the development of the fourth stage of the Galkynyş gas field will have a significant impact on the development of the gas industry in Turkmenistan. A Framework agreement between the State Concern Turkmengaz and Hyundai Engineering Co., Ltd. has also been prepared for signing during the state visit of the President of the Republic of Korea. Based on this, a Framework Agreement was signed on cooperation at the IV stage of the Galkynyş gas field for the design, construction "with the condition of fully ready construction" of wells, commercial gas treatment facilities with production capacity 10 billion cubic meters per year and its acquisition.

During the meeting, the Turkmen side also focused on bringing the polymer plant in Kiyanli to full production capacity. Following the results of the Agreement on conducting a comprehensive technical audit at the polymer plant in Kiyanli, signed between the State Concern Türkmenhimiýa and Hyundai Engineering Co., Ltd., interest was expressed in the implementation of a project to increase its production capacity. In this context, a cooperation Agreement was signed between the State Concern Türkmenhimiýa and the Korean company Hyundai Engineering Co., Ltd. on the implementation of the necessary measures for the successful commissioning and stable operation of the polymer plant in Kiyanli.

Dear Forum members!

In order to expand cooperation between the business circles of the two countries, it is planned to organize business forums, exhibitions and trade fairs, as well as joint events, in particular, international conferences in both Turkmenistan and the Republic of Korea.

We will also continue our financial partnership for the implementation of upcoming projects with the participation of the Export-Import Bank, the Korea Trade Insurance Corporation, the State Bank for Foreign Economic Activity of Turkmenistan and Korean companies.

Dear friends!

Agreements were reached on other key areas of bilateral cooperation, in particular, in the field of deepening cooperation between the Scientific and Clinical Center of Oncology, the Center for Emergency Medicine of the Ministry of Health and Medical Industry of Turkmenistan and the Chilgok Hospital at the National University of Gyeongpook of the Republic of Korea.

Among the important points of joint efforts are the organization of cultural events with the participation of cultural figures and masters of arts of Turkmenistan and the Republic of Korea – Days of Culture, festivals, concerts and exhibitions, as well as the exchange of experience in using the capabilities of the latest technologies in this area.

I would like to note that in recent years, the interest of young people in learning the Korean language has increased in Turkmenistan. A clear example of this is the teaching of the Korean language and the opening of specialized departments in higher educational institutions of our country. The King Sejong Korean Educational Center is also successfully operating in Ashgabat. We will make every effort to bring our peoples closer together, strengthening bilateral cultural and humanitarian ties.

Dear participants of the conference!

I am sure that the results of this forum will give a significant impetus to the development of Turkmen-Korean relations!

In conclusion, I once again express my gratitude to the President of the Republic of Korea, Mr. Yun Seok-yeol, and the Korean delegation.