(LEAD) S Korea-Azerbaijan-economic ties

▲ This photo, provided by South Korea's industry ministry, shows the third meeting of the South Korea-Azerbaijan joint economic commission in Seoul on June 7, 2023. (PHOTO NOT FOR SALE) (Yonhap)

(LEAD) S Korea-Azerbaijan-economic ties

(LEAD) S. Korea seeks to win major energy, industry projects in Azerbaijan

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SEOUL, June 7 (Yonhap) -- South Korea asked for Azerbaijan's support Wednesday for its companies seeking to take part in major energy and other industry projects in the European nation, the industry ministry said.

Deputy Trade Minister Jeong Dae-jin made the request during their joint economic commission meeting in Seoul on the day, as the two nations explored ways to enhance bilateral economic and industry cooperation, according to the Ministry of Trade, Industry and Energy.

South Korean companies are pushing to participate in major energy-related projects in Azerbaijan, including a project by the State Oil Company of Azerbaijan to build natural gas facilities worth US$3 billion.

Azerbaijan is rich in oil, gas and other natural resources, and it manages the Southern Gas Corridor, a natural gas supply route to Europe.

"The two sides exchanged opinions on how to expand bilateral trade relations, as well as cooperation on smart cities, smart farms, healthcare, education and various other sectors," the ministry said in a release.


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