On 20 July 2023, a meeting between the executives of the “Turkmendenizderyayollary” Agency and the head of the Marine Equipment Association "KOMEA" of the Republic of Korea was held in the administrative building of the "Turkmendenizderyayollary" Agency.   The meeting provided a comprehensive introduction to Turkmenistan's maritime transport system, the planned shipbuilding projects for the development of the national merchant marine fleet and port system, and proposed to establishment of bilateral, mutually beneficial cooperation.

KOMEA -  is the Korean Marine Equipment Research Association of the Korean Ministry of Trade, Industry and Energy. More than 285 heavy industry companies are members of the association. Today, all the modern equipment and technology required for shipbuilding is produced and installed by the association. The association mainly provides services such as design in shipbuilding, supply of equipment and materials, implementation of advanced scientific technologies, and implementation of shipbuilding industrial production in the country.

Also, during the meeting proposals of association KOMEA, potential directions of cooperation between Turkmenistan and Korea in the field of shipbuilding and as a strategic partner, possibilities of joint designing and construction of ships, training of specialists, implementation of shipbuilding technologies were considered, equipment supply, digitalisation of plant operations, establishment of quality control system and marketing activities, as well as technical supervision of plant machinery and equipment were discussed.

Also, head of KOMEA noted the possibility of establishing a hub in Shipbuilding and Repairing yard “Balkan”, providing equipment needed for the Caspian Sea in shipbuilding industry. Also, if it possible, the guest suggested the creation of a joint venture between Balkan Shipyard and a Korean company.

At the end of the meeting, the parties noted that all efforts would be made to further develop mutually beneficial bilateral cooperation in the shipbuilding industry.