Today we are participating in the Turkmen-Korean business conference. Taking this opportunity, we thank the President of the Republic of Korea, Mr. Yoon Seok-yol, for participating in the meeting and paying special attention to the development of Turkmen-Korean relations. It should be noted that Turkmen and Korean businessmen, leading companies participate in this forum.

As we know, the cooperation between Turkmenistan and the Republic of Korea has reached higher levels in recent years. In particular, our relations in the political-diplomatic, trade-economic, cultural-humanitarian spheres have reached high levels of development and have been enriched with new meaning. Currently, 105 documents have been signed between Turkmenistan and the Republic of Korea in various fields. 26 of them are intergovernmental and intergovernmental documents, and 79 are interagency documents.

The effective trade and economic cooperation between the two countries has become stronger in recent years. 13 enterprises with the participation of South Korean capital have been registered in Turkmenistan. To date, there are 14 investment projects in the country with the participation of Korean companies with a total value of more than 11 billion US dollars.

Among them, the gas desulfurization plant in the Galkynysh gas mine; Constructions of gas chemical complex producing polyethylene and polypropylene in Kyyanly; modernization of the complex of oil refineries in Turkmenbashi; Major projects such as the purchase of 1,630 Hyundai buses and 300 light taxis can be presented. Currently, Koryo Shipbuilding Industry Technology Co., Ltd. Construction of two dry cargo vessels is underway at the "Balkan" Shipbuilding and Repair Plant with the participation of Shipbuilding Industry Technology Company.

Dear participants of the meeting!

Bilateral relations between Turkmenistan and the Republic of Korea have a unique character, and cooperation is carried out within the framework of several effective structures. That is, the intergovernmental Turkmen-Korean group on trade, economic, scientific and technological cooperation, the "Republic of Korea-Turkmenistan" parliamentary friendship group has been active for many years. Within the framework of the "Central Asia-Republic of Korea" cooperation forum, important decisions were made in various systems, and the relations in this field are actively continued not only bilaterally, but also within the framework of international organizations, including the United Nations. In this regard, it should be noted that on June 3, 2024, the 9th meeting of the intergovernmental Turkmen-Korean commission on trade, economic, scientific and technological cooperation was held through live video communication. During the meeting, cooperation between the parties in the following areas was considered important:

— to cooperate in such areas as trade and investment, chemical, oil and gas industry, shipbuilding, transport and logistics, healthcare and medical industry, culture, education system;

— to establish effective cooperation between entrepreneurs and businessmen of the two countries;

- holding a Turkmen-Korean business conference in Ashgabat on June 11 of this year. Here we are, passing on this advice.

Dear people!

It was proposed to sign a Memorandum of Understanding between the Government of Turkmenistan and the Government of the Republic of Korea on establishing a framework for trade and investment promotion. The document covers areas such as energy, industry, trade, investment, green and digital economy.

The parties emphasized the importance of effective continuation of energy cooperation between the two countries. In this regard, it was emphasized that the development of the IV stage of the Galkynysh gas field will be a great contribution to the development of the gas industry in Turkmenistan. In this regard, during the state visit of the President of the Republic of Korea, Turkmengaz state concern and Hyundai Engineering Co., Ltd. A framework agreement has been prepared for signing between Turkmengaz State Concern and Hyundai Engineering Co., Ltd., on the basis of which, in stage IV of the Galkynysh gas field, production facilities and wells with a production capacity of 10 billion cubic meters per year will be fully prepared. A Framework Agreement was signed to cooperate on the design, purchase and construction project.

During the meeting, the Turkmen side emphasized the importance of bringing the polymer plant in Gyyanly to its full production capacity. In this regard, it is interesting to further implement the project to increase the production capacity of the polymer plant as a result of the agreement concluded between the state concern "Turkmenhimiya" and the company "Hyundai Engineering Co., Ltd." on conducting an integrated technical inspection-audit at the polymer plant in Gyyanly.