Uzbekistan and South Korea Discuss Expanding Cooperation in Economy and Finance

Tashkent, Uzbekistan (UzDaily.com) — On 6 March, a meeting was held in Tashkent between the Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Uzbekistan, Won Do-yeon, and the First Deputy Minister of Economy and Finance of Uzbekistan, Ilkhom Norkulov.

The meeting was also attended by First Secretary of the Korean Embassy Chu Hyun-su, economic expert Jisu Kim, Deputy Minister of Economy and Finance Gulnora Rakhimova, Chairman of the Treasury Committee under the Ministry of Economy and Finance Abdullaziz Khaydarov, and other officials.

During the talks, the parties discussed ways to further develop economic cooperation and expand new areas of partnership, including the introduction of Artificial Intelligence technologies in the economy and financial system. Particular attention was given to attracting a qualified Korean AI expert and improving the financial management system through digital solutions.

An important aspect of the dialogue was cooperation in the treasury sector, including interaction with experts from the Fiscal Information Service of the Republic of Korea, exchange of experience between specialists, and studying advanced Korean practices.

The sides also discussed leveraging the country’s stable demographic trends, implementing the opportunities of the Demographic Dividend, assessing labor market indicators in line with international standards, and improving forecasts of the population’s living standards.

In particular, the parties agreed to develop cooperation on methodologies for determining the need for social and infrastructure facilities based on demographic forecasts, applying Korean experience in utilizing the demographic dividend, and improving methods for calculating household income.

Following the meeting, the sides agreed to further expand bilateral cooperation in the fields of economy and finance, continue expert-level contacts, and implement joint initiatives aimed at improving public financial management and strengthening institutional capacity.