Tashkent, Uzbekistan (UzDaily.uz) — President of Uzbekistan Shavkat Mirziyoyev and Prime Minister of the Republic of Korea Han Seong-sook attended the opening of the Uzbekistan-South Korea Business Forum, which brought together more than 300 representatives of government agencies and business communities from the two countries, the press service of the President of Uzbekistan reported.
The Korean business community was represented by executives and representatives of major companies, including Lotte Chemical, Hyundai Motor Group, Samsung C&T, CJ Group, Shinhan Financial Group, Hyundai Rotem, KIND, BOMI, Kia Corporation, Sampyo Group and Hansae Mobility.
New opportunities for economic cooperation
In his speech, Mirziyoyev said that Korea is a time-tested friend and a special strategic partner of Uzbekistan. He noted that trade, economic and investment cooperation occupies a key place in multifaceted Uzbekistan-Korea relations.
The president highlighted the successful operations of leading Korean companies in Uzbekistan and their significant contribution to the country’s economic development.
According to the head of state, Uzbekistan is entering a new stage of industrial and technological development, creating additional opportunities to expand mutual trade, investment cooperation and joint projects.
Mirziyoyev proposed combining Uzbekistan’s resource base, Korea’s advanced technologies and the investment capital of companies from the two countries to create new sources of economic growth.
Priority areas of partnership
Among the key areas for further cooperation, the president identified industrial cooperation and the creation of full production chains, energy and the green economy, transport and modern infrastructure, digitalization and artificial intelligence.
Semiconductors and microelectronics, biotechnology and pharmaceuticals, joint research, the introduction of advanced technologies and personnel training were also identified as priorities.
Korean companies were invited to participate in projects involving copper processing, electrical equipment production and localization of components for the automotive and electric vehicle industries.
Other projects include robotics and automation, biotechnology and pharmaceuticals, hydropower, energy storage systems, modernization of energy networks, as well as transport and urban infrastructure.
Industrial and technological alliance
As a practical mechanism for further developing industrial and technological cooperation, Mirziyoyev proposed establishing an Uzbekistan-Korea Industrial and Technological Alliance.
The President of Uzbekistan also reaffirmed his readiness to continue creating favorable conditions for Korean businesses in the country and provide practical support for the implementation of joint projects.
New agreements and joint projects
Following the Uzbekistan-South Korea Business Forum, a ceremony was held to sign a package of investment and trade and economic agreements with the participation of Shavkat Mirziyoyev and Han Seong-sook.
The forum also hosted a ceremony marking the launch and start of construction of joint projects with leading companies and financial institutions from the Republic of Korea.
The Chemical Technologies Center began operations in Tashkent. In Jizzakh Region, production of Kia Sonet Prime vehicles and car body panels was launched, while electrical products began to be produced in Ferghana Region and polymer products in Namangan Region.
Construction also began in Tashkent on the National Oncology Center, a higher medical educational institution, and a facility for producing robots and their components.
