Tashkent region, North Gyeongsang province sign cooperation memo

The document was signed within the visit of the delegation of business circles of the Republic of Korea from North Gyeongsang province to Tashkent region.

Within the memorandum, the sides will develop economic, cultural, sport and tourism sectors.

Uzbekistan and South Korea have been cooperating in various areas, including in politics, trade and economic, investment and cultural-humanitarian directions. Last year, the countries marked the 20th anniversary of diplomatic mission.

Trade turnover of Uzbekistan and South Korea exceeded US$2 billion in 2012. Number of the Uzbek-Korean joint ventures in automobile, textile, construction, telecommunication, transport and mining sectors is increasing each year. Currently, there are 401 Uzbek-South Korean joint ventures in Uzbekistan and 88 large Korean companies opened their offices in the country.

During the meeting at the administration, attended by Tashkent regional governor Ahmad Usmanov and head of the North Gyeongsang province Kim Kwan-yong, it was noted that currently there are over 40 enterprises with the Korean capital.

The small enterprises produce highly demanded products. The Korean companies express interest to special industrial zone “Angren”, which is close to international logistic center and close to Tashkent, Ferghana and Samarkand.

Uzbekistan and South Korea are cooperating in cultural and humanitarian spheres. The region has 10 Korean cultural centers.