Pact to promote cooperation between Korean, Turkish contractors

Turkey and South Korea, home to the world's respective second- and sixth-largest construction sectors, have set their sights on cooperating to gain greater clout in the global marketplace. State Minister Zafer Caglayan and South Korean Land, Transport and Maritime Affairs Minister Chung Jong-Hwan yesterday signed a memorandum of understanding to create a cooperative mechanism for contracts and technical consultations in third countries. Caglayan stated that the pact would allow the two countries' contractors to cooperate on international projects, thus strengthening both nations' construction sectors.