President Yoon Suk Yeol commenced a series of state visits to three Central Asia countries with his arrival in Ashgabat, Turkmenistan on Monday. The primary goal of these visits is to enhance economic relations and secure a stable supply of critical minerals. Upon his arrival, President Yoon will hold talks with Turkmen President Serdar Berdymukhamedov and oversee the signing of nonbinding bilateral deals. This visit marks the second meeting between Yoon and Berdymukamedov, following their initial encounter at the United Nations General Assembly in September. The state visit to Turkmenistan is focused on establishing an institutional foundation to boost trade, particularly in light of Turkmenistan's efforts to develop its petrochemicals and energy-related industries to reduce reliance on natural gas exports. South Korea and Turkmenistan have had diplomatic ties since 1992 and formed a "mutually beneficial partnership" in 2008, with the annual trade volume amounting to $17 million as of 2023. The visit is anticipated to facilitate the entry of more South Korean firms into the region and strengthen critical minerals supply chain stability for South Korea. President Yoon is also scheduled to visit Kazakhstan and Uzbekistan later in the week as part of this diplomatic engagement.
President Yoon Suk Yeol commenced a series of state visits to three Central Asia countries with his arrival in Ashgabat, Turkmenistan on Monday. The primary goal of these visits is to enhance economic relations and secure a stable supply of critical minerals. Upon his arrival, President Yoon will hold talks with Turkmen President Serdar Berdymukhamedov and oversee the signing of nonbinding bilateral deals. This visit marks the second meeting between Yoon and Berdymukamedov, following their initial encounter at the United Nations General Assembly in September. The state visit to Turkmenistan is focused on establishing an institutional foundation to boost trade, particularly in light of Turkmenistan's efforts to develop its petrochemicals and energy-related industries to reduce reliance on natural gas exports. South Korea and Turkmenistan have had diplomatic ties since 1992 and formed a "mutually beneficial partnership" in 2008, with the annual trade volume amounting to $17 million as of 2023. The visit is anticipated to facilitate the entry of more South Korean firms into the region and strengthen critical minerals supply chain stability for South Korea. President Yoon is also scheduled to visit Kazakhstan and Uzbekistan later in the week as part of this diplomatic engagement.