BAKU, Azerbaijan, October 6. South Korea’s
Yousung Co., Ltd. and Turkmenistan’s Balkan plant plan cooperation
on oil and gas facilities and a hot-dip galvanizing plant.


Yousung provided the information in an exclusive response to
Trend’s questions about
its recent memorandum of understanding (MoU) with the Balkan
Shipbuilding and Ship Repair Plant in Turkmenistan.


Despite the name of the Turkmen company, Yousung clarified that
the agreement is not related to shipbuilding. Instead, the MoU
concerns "the establishment of oil and gas facilities, as well as a
hot-dip galvanizing plant," Yousung said.


The company did not specify what particular oil and gas
facilities or galvanizing equipment are envisaged under the
agreement.


Yousung also said that the timeline for turning the MoU into
concrete projects has not yet been determined.


The company said the sides are still discussing the detailed
conditions and specifications of the project. Therefore, further
details on implementation are not available at this stage.







At the same time, Yousung confirmed that the planned cooperation
includes technology transfer and long-term cooperation, adding that
further details of the agreement are currently under internal
discussion.


For reference, Yousung Co., Ltd. is a South Korean industrial
company whose activities include metal manufacturing and hot-dip
galvanizing. The company is based in Yangsan, Gyeongsangnam-do, and
its registered main product is hot-dip galvanizing.


The Balkan Shipbuilding and Ship Repair Plant is a Turkmen
shipbuilding and ship repair facility located within the country’s
maritime infrastructure. According to Turkmenistan’s State Service
of Maritime and River Transportation, the plant is designed to
build four to six vessels and repair 20 to 30 vessels annually.


The MoU between Balkan Shipbuilding and Ship Repair Plant and
Yousung was signed in Seoul on September 15, 2026, during Turkmen
President Serdar Berdimuhamedov’s state visit to South Korea and
his talks with South Korean President Lee Jae Myung. The document
was part of a broader package of bilateral agreements and
memorandums signed during the visit.