Turkmenistan an economic partner with great potential, mainly in energy
As South Korea and Turkmenistan are expected to boost ties especially in the energy sector... Seoul has already been building trust with the Central Asian nation.... by constructing power plants in the country.
Park Hee-jun reports. South Korea’s trade volume with Turkmenistan is relatively low,... but has great potential for growth.
Main exports to Turkmenistan include automobiles, metal goods, and IT devices,... while imports center on textiles.
But the most promising growth comes from the energy sector.
The value of construction orders received for energy plants,... amounts to a total of 10-billion U.S. dollars as of this month.
South Korean companies earned the Central Asian country’s trust by successfully building numerous energy plants, contributing to the Turkmen economy.
Global consortiums led by Korean firms completed a natural gas processing plant in Galkynysh,... and a petrochemical plant in Kiyanly.
The Kiyanly plant alone is expected to generate an annual profit of 600-million dollars for the Turkmenistan government.
And with the leaders of South Korea and Turkmenistan having agreed to push for further cooperation in the area,... it's anticipated that President Moon Jae-in's visit this week will create momentum for landing further deals on energy projects.
Turkmenistan also boasts the world’s fourth largest supply of natural gas,... making up to 10 percent of global reserves.
South Korea hopes to boost cooperation in developing resources,... in its efforts to diversify industries.
And with the two countries having signed MOUs during their bilateral summit,... economic cooperation is also expected to advance in other sectors, such as transportation, logistics, ICT, healthcare, and sports.
Park Hee-jun, Arirang News.
Park Hee-jun reports. South Korea’s trade volume with Turkmenistan is relatively low,... but has great potential for growth.
Main exports to Turkmenistan include automobiles, metal goods, and IT devices,... while imports center on textiles.
But the most promising growth comes from the energy sector.
The value of construction orders received for energy plants,... amounts to a total of 10-billion U.S. dollars as of this month.
South Korean companies earned the Central Asian country’s trust by successfully building numerous energy plants, contributing to the Turkmen economy.
Global consortiums led by Korean firms completed a natural gas processing plant in Galkynysh,... and a petrochemical plant in Kiyanly.
The Kiyanly plant alone is expected to generate an annual profit of 600-million dollars for the Turkmenistan government.
And with the leaders of South Korea and Turkmenistan having agreed to push for further cooperation in the area,... it's anticipated that President Moon Jae-in's visit this week will create momentum for landing further deals on energy projects.
Turkmenistan also boasts the world’s fourth largest supply of natural gas,... making up to 10 percent of global reserves.
South Korea hopes to boost cooperation in developing resources,... in its efforts to diversify industries.
And with the two countries having signed MOUs during their bilateral summit,... economic cooperation is also expected to advance in other sectors, such as transportation, logistics, ICT, healthcare, and sports.
Park Hee-jun, Arirang News.