Korea Stock Exchange visits State Competition Committee

Officials of the State Committee of the Republic of Uzbekistan for privatization, demonopolization and development of competition, Center for securities market, organizations of securities market, ministries and departments attended the event.

The visit of the Korean delegation was aimed at familiarizing and exchanging opinion with the State Competition Committee, discussing current state of implementation of joint project on modernization of stock exchange of Uzbekistan, improving stock exchange situation with IPOs, etc.

At the meeting, the sides discussed schedule of supply of single software and technical complex, developed by the Korea Stock Exchange in line with the general agreement on modernization of securities market from 23 August 2011.

The sides noted that it is necessary to adopt effective measures to ensure successful modernization of the securities market of Uzbekistan

Within the visit, the Korean delegation visited Uzbek-Korean bank UzKDB and office of Daewoo International Corporation in Tashkent.

State Property Committee of Uzbekistan and Korean Stock Exchange (KRX) signed an agreement on developing securities market in December 2010 and general agreement on modernization of securities market of Uzbekistan in August 2011.

Within the general agreement, Korea Stock Exchange will supply and introduce single software and technical complex for securities market, as well as help to improve legislation framework.

The Korean exchange will receive 25% minus one share in the Uzbekistan Stock Exchange (UZSE) as a payment for supplied complex.