Daewoo E&C opens new branch in Turkmenistan

South Korea's Daewoo Engineering & Construction Co. (Daewoo E&C) opened a branch in Ashgabat, the capital of Turkmenistan, on Oct. 31, the company said on Friday. 

Prominent figures such as Daewoo E&C Chairman Jung Won-ju, South Korean Foreign Minister Park Jin, and Turkmenistan's Deputy Prime Minister Baymyrat Annamamedov, tasked with overseeing the sectors of construction, power, and industry, attended the inaugural ceremony.

Chairman Jung acknowledged the support from both the South Korean and Turkmen governments and their clients, committing Daewoo E&C to be a bridge between the two countries, beyond its corporate identity.

In conjunction with his trip, Jung participated in the Korea-Central Asia Cooperation Forum, highlighting the company's wider engagement in the region.

Marking his second official visit to Turkmenistan, Jung is on a mission to finalize deals for two major fertilizer plant projects within the country before the year's end.

Previous discussions in May with Turkmen President Serdar Berdimuhamedov and the nation's preeminent leader, Gurbanguly Berdymukhammedov, detailed the progress and funding strategies for the fertilizer projects.

Moreover, Daewoo E&C is contemplating involvement in the second phase of the ambitious Arkadag Smart City scheme, aimed at creating a high-tech urban center for 64,000 people, located 30 kilometers southwest of Ashgabat.

Write to You-Jung Lee at jilee@hankyung.com