Daewoo E&C chief doubles down on Central Asia push

Daewoo Engineering & Construction Chairman Jung Won-ju went all-out to lead the Korean builder's push into Central Asia, joining a series of business and diplomatic events linked to the inaugural Korea-Central Asia Summit held in Seoul, the company said Friday.

According to Daewoo E&C, Jung took part in the Korea-Uzbekistan Business Roundtable, the Korea-Turkmenistan Business Forum and a state dinner for the Central Asian leaders from Uzbekistan, Turkmenistan, Kazakhstan, Tajikistan and Kyrgyzstan, using the events to discuss each country's industrial and infrastructure development plans and promote Daewoo E&C's capabilities and potential areas for cooperation.

The builder secured a concrete foothold in Turkmenistan during the Korea-Turkmenistan Business Forum on Tuesday. Daewoo E&C and Turkmenistan's State Committee for Water Management signed a memorandum of understanding to cooperate on the modernization of the Karakum Canal.

Daewoo E&C said the MOU lays the groundwork for the modernization of a roughly 250-kilometer lower section of the canal while potentially opening the door to broader cooperation in water resources and environmental projects in Turkmenistan.

The development expands Daewoo E&C's business in the country beyond plant construction. The company entered the Turkmen market last year after winning a contract for a mineral fertilizer plant and is now seeking to extend its presence into water resources and infrastructure.

Jung met with Turkmen President Serdar Berdymukhamedov during the business forum and discussed Daewoo E&C's plans for additional projects in the country while asking for continued interest and support from the Turkmen government.

He separately held talks with officials and business representatives from Uzbekistan and other Central Asian countries on potential cooperation in energy, plants, infrastructure and urban development.

Daewoo E&C continued its engagement with Turkmenistan on Thursday, when its employees attended a Turkmenistan Culture Day event at the company's headquarters in central Seoul.

The event featured traditional dance and music performances as well as exhibitions of traditional handicrafts and artworks, highlighting cultural exchanges between the two countries following the summit and the Turkmen president's state visit to Korea.

“This Korea-Central Asia Summit served as an important opportunity for Korea and Central Asia to broaden the scope of cooperation beyond the economy and industry to include culture and people-to-people exchanges,” Jung said.

“We will further solidify our trust and cooperative relationships with each Central Asian country and actively participate in various infrastructure projects needed locally.”