Daewoo Engineering and Construction said Monday that CEO Kim Bo-hyun visited Turkmenistan last week to discuss business opportunities with top Turkmen leaders.
During his visit to Ashgabat, Kim held meetings with Gurbanguly Berdimuhamedov, chair of the People's Council, and President Serdar Berdimuhamedov.
“We hope to expand our presence by entering various business areas (in Turkmenistan), starting with the ongoing mineral fertilizer plant project,” said Kim as he congratulated the 30th anniversary of the country’s neutrality declaration and expressed his appreciation for the invitation in a meeting with the People’s Council Chairman on Wednesday.
Kim pledged to increase localization efforts and invest in workforce development to build a mutually beneficial growth model with Turkmenistan as he held talks with the Turkmen president the next day.
Noting that the petrochemical and gas industries are important to the country, the Turkmen president welcomed Daewoo E&C’s active participation in related fields and expressed hope to visit the Korean firm’s project sites during a planned trip to Korea next year.
Daewoo E&C clinched a 1.1 trillion won ($746.7 million) order to build a mineral fertilizer plant in Turkmenistan in May, marking its first project in the Central Asian market. The company held a groundbreaking ceremony for the plant in October, with plans to complete the construction by the end of 2028.
A company official said the latest visit is expected to further solidify Daewoo E&C’s partnership with Turkmenistan while enhancing its role as a “private-sector diplomatic envoy.” The company plans to accelerate expansion not only in petrochemical plant projects but also across a wide range of infrastructure sectors.
“We are going to speed up expanding business by pursuing various infrastructure projects aside from petrochemical plants,” said a Daewoo E&C official.
hwkan@heraldcorp.com
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