{"id":2205426,"date":"2024-06-12T08:00:11","date_gmt":"2024-06-11T23:00:11","guid":{"rendered":"https:\/\/koreapro.org\/?p=2205426"},"modified":"2024-06-11T17:08:25","modified_gmt":"2024-06-11T08:08:25","slug":"south-korea-eyes-turkmenistans-natural-gas-reserves-amid-political-uncertainty","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/06\/south-korea-eyes-turkmenistans-natural-gas-reserves-amid-political-uncertainty\/","title":{"rendered":"South Korea eyes Turkmenistan\u2019s natural gas reserves amid political uncertainty"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korean President Yoon Suk-yeol completed a <\/span><a href=\"https:\/\/www.president.go.kr\/newsroom\/press\/MlNpFy96\"><span style=\"font-weight: 400;\">state visit<\/span><\/a><span style=\"font-weight: 400;\"> to Turkmenistan on Monday and Tuesday, where he met with Turkmen President Serdar Berdimuhamedov. The leaders discussed expanding bilateral cooperation in various sectors, including economics, culture and environmental protection. Both leaders agreed to hold regular policy consultations on international relations and reaffirmed their commitment to the peaceful resolution of the North Korean nuclear issue.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The visit yielded agreements to enhance gas, chemicals, shipbuilding and infrastructure cooperation. The two nations committed to increasing trade and investment, building on previous agreements. The leaders highlighted the need for collaboration on energy investments and new industry development to achieve carbon neutrality. They also agreed to promote cultural, scientific and educational exchanges, with Turkmenistan inviting South Korea to a 2025 international forum.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Yoon\u2019s state visit to Turkmenistan significantly expands opportunities for South Korean businesses. The signing of eight agreements, particularly in energy, infrastructure and healthcare, provides South Korea with enhanced access to Turkmenistan\u2019s vast natural gas reserves and participation in large-scale projects.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The U.S.-led <\/span><a href=\"https:\/\/www.state.gov\/inaugural-c51-critical-minerals-dialogue-among-the-united-states-and-kazakhstan-the-kyrgyz-republic-tajikistan-turkmenistan-and-uzbekistan\/\"><span style=\"font-weight: 400;\">C5+1 Critical Minerals Dialogue<\/span><\/a><span style=\"font-weight: 400;\"> underscores Central Asia\u2019s strategic importance in global supply chains. Turkmenistan\u2019s involvement in this dialogue presents significant opportunities for South Korean businesses. Engaging with Turkmenistan will mitigate geopolitical risks and enhance South Korea\u2019s influence and business prospects in Central Asia.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, South Korea faces political risks due to the unstable power dynamics in Turkmenistan. The reported power struggle between Serdar Berdymukhamedov and his father, former Turkmen President Gurbanguly Berdymukhamedov, creates political uncertainty. Additionally, the International Monetary Fund <\/span><a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2024\/04\/15\/pr24118-turkmenistan-imf-staff-completes-2024-article-iv-mission\"><span style=\"font-weight: 400;\">reported<\/span><\/a><span style=\"font-weight: 400;\"> in April that Turkmenistan faces high inflation, overvalued exchange rates and inefficient public spending, further exacerbating risks.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/inter-korean-foreign-relations\/\"><span class=\"tag\">Inter-Korean &amp; Foreign Relations<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>South Korean President Yoon Suk-yeol completed a state visit to Turkmenistan on Monday and Tuesday, where he met with Turkmen President Serdar Berdimuhamedov. The leaders discussed expanding bilateral cooperation in various sectors, including economics, culture and environmental protection. Both leaders agreed to hold regular policy consultations on international relations and reaffirmed their commitment to the [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2205427,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,28],"class_list":["post-2205426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-inter-korean-foreign-relations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Korea eyes Turkmenistan\u2019s natural gas reserves amid political uncertainty - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2024\/06\/south-korea-eyes-turkmenistans-natural-gas-reserves-amid-political-uncertainty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea eyes Turkmenistan\u2019s natural gas reserves amid political uncertainty - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"South Korean President Yoon Suk-yeol completed a state visit to Turkmenistan on Monday and Tuesday, where he met with Turkmen President Serdar Berdimuhamedov. The leaders discussed expanding bilateral cooperation in various sectors, including economics, culture and environmental protection. 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