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​Turkmenistan, South Korea Sign $4 Billion Gas Processing Deal

Turkmenistan and South Korea have signed a $4 billion in agreement to build natural gas-processing plants in the Central Asian nation.

South Korean leader Park Geun-Hye and her host Gurbanguly Berdymukhammedov presided over the inking of a number of agreements on June 20 including a preliminary deal between state gas company Turkmengaz and South Korea's LG and Hyundai to build the gas-processing plants.

Park, on her first visit to Turkmenistan as part of a Central Asia tour, said the two countries complement each other economically.

"You have energy resources and we are experienced in economic development and high-tech," she said.

Berdymukhammedov said that South Korean businesses are already present in Turkmenistan, having implemented nine projects worth $5.5 billion.
Based on reporting by AFP and Reuters