BAKU, Azerbaijan, September 15. South Korea and
Turkmenistan signed an investment protection agreement,
strengthening the institutional framework for bilateral
investment.


This was announced in a report published by the press service of
the President of the Republic of S. Korea on September 15.


According to the report, the agreement, signed after 16 years of
work by the two sides, is intended to provide a basis for
“protecting investors and promoting investment” between South Korea
and Turkmenistan.


South Korean President Lee Jae Myung also asked Turkmen
President Serdar Berdimuhamedov to support the continued
participation of Korean companies in large-scale plant and
infrastructure projects in Turkmenistan.


Lee emphasized that Korean companies could draw on their
accumulated experience and technological capabilities in
participating in such projects, according to the report.


The two sides also signed agreements on mutual assistance in
customs matters and a memorandum of understanding on comprehensive
cooperation in intellectual property.







Memoranda on cooperation in the chemical industry, industrial
manufacturing and infrastructure were also signed during the
summit.


Meanwhile, Turkmen President Serdar Berdimuhamedov is paying a
state visit to South Korea and taking part in the first Central
Asia-Republic of Korea Summit in Seoul on September 16-17. The
summit brings together the leaders of South Korea and the five
Central Asian countries - Kazakhstan, Turkmenistan, Uzbekistan,
Kyrgyzstan and Tajikistan - marking the first elevation of the
Korea-Central Asia dialogue to the leaders’ level. Seoul has said
the summit is intended to deepen regional cooperation and produce
practical results for the participating countries.


For Turkmenistan, the summit is taking place alongside a state
visit and bilateral negotiations with the South Korean leadership.
During South Korean President Yoon Suk Yeol's state visit to
Turkmenistan in June 2024, the two countries signed a memorandum
aimed at strengthening cooperation in areas including the economy
and investment, culture, education, communications and human
exchanges. Turkmenistan also expressed support for Seoul's K-Silk
Road initiative, which South Korea presented as its comprehensive
strategy for expanding cooperation with the five Central Asian
countries.


The current summit is therefore taking place against the
backdrop of an effort by Seoul to elevate its cooperation with
Central Asia to the leaders' level.