Mutual agreement on President Moon Jae-in’s visit to Turkmenistan

Minister of Trade, Industry and Energy, visited Ashhabad bus terminal where buses supplied by HYUNDAI Corporation are being operated

▲ HYUNDAI Corporation signed an MOU with Turkmenavoulaglay on April 16, for vehicle supply and transportation infrastructure construction.(Director Choi Yun-suk of commercial vehicle team, on the left of photo, and Director of Road Traffic Service, on the right of photo)

HYUNDAI Corporation signed an MOU with Turkmenavoulaglay on April 16, for vehicle supply and transportation infrastructure construction. This MOU is one of six economic cooperation MOUs signed between Korea and Turkmenistan on the occasion of state visit of President Moon Jae-in to Turkmenistan, which contains the contents such as ‘bus supply and taxi vehicle supply, construction of driving license practice site and bus terminal construction for the convenience of passenger’ to increase the export of automobile of our enterprises through transportation infrastructure improvement of road traffic in Turkmenistan.’

This MOU for transportation infrastructure improvement is expected to be a great help to promote the supply business of the remaining 400 buses not yet supplied among 900 buses of Supply Agreement signed with Turkmenavoulaglay in 2014. In addition, this MOU is evaluated to be a momentum to promote the supply of additional buses and taxi vehicles besides the remaining 400 buses, and thus it is expected to expand the volume of related export in the future.

▲ The signing ceremony of supply contract for 500 aero city busses and related parts in 2016

HYUNDAI Corporation participated in public transportation business of Turkmenistan first as Korean enterprise in 2018. Starting with the supply of 530 buses of HYUNDAI Motors, HYUNDAI Corporation has supplied total 1,500 vehicles till now including 300 taxies in 2009, 200 buses in 2012 and 500 buses in 2017 to the Ministry of Road Traffic of Turkmenistan.

In particular, according to the agreements of ‘Korea-Turkmenistan Economic Cooperation Conference’ signed in June 2014, both parties signed an agreement to supply 900EA of super aero city bus of HYUNDAI Motors from 2015 to 2020. In 2017, based on the corresponding supply agreements, we completed the supply of 500 super aero city buses.

▲ Seong Yoon-mo, the minister of trade, industry and energy, visited Ashkhabad bus terminal on April 17 where the buses supplied by HYUNDAI Corporation are being operated. (From second of the left side, Director Choi Yun-suk, minister of road traffic of Turkmenistan, Minister Seong Yoon-mo, Oh Jun-hwan, section chief of Ashkhabad branch)

Seong Yoon-mo, the minister of Trade, Industry and Energy, on April 17, the next day of MOU signing, visited Ashkhabad bus terminal where the buses supplied by HYUNDAI Corporation are being operated. This visit was conducted while executing his duty for the state visit of President Moon Jae-in to Turkmenistan and inspected super aero city buses and Elantra taxies parked on the bus terminal for 20 minutes.

▲ The photo that Choi Yun-suk, Director of Commercial Vehicle Team and Oh Jun-hwan, section chief of Ashkhabad branch are talking with Seong Yoon-mo, minister of TIE.

For this visit to bus terminal, Oh Jun-hwan, section chief of Ashkhabad branch of HYUNDAI Corporation received minister Seong Yoon-mo and explained him about history of vehicles supplied since 2008 and the bus terminal construction project. Minister Seong requested the commercial agent of Korean Embassy in Turkmenistan “to give unstinted support so that the project of HYUNDAI Corporation will go on without a hitch”.

Meanwhile, an official of the ministry of Trade, Industry and Energy told us that on Korea-Turkmenistan Summit on April 17, the president of Turkmenistan stressed the cooperation of 3 sections such as Energy, Transportation and Water and requested the cooperation for smooth progress as Transportation and Water are the business areas that HYUNDAI Corporation is in progress.