Uzbekistan and South Korea implement three projects in the automotive industry

Tashkent, Uzbekistan (UzDaily.uz) -- Uzbekistan and South Korea agreed to implement three projects in the automotive industry with a total value of US$253.15 million.

Evergreen Motors and the State Committee for Investments of Uzbekistan signed a memorandum of understanding on organization of the serial production of Hyundai cars. The cost of the project is US$200 million.

Evergreen Motors also intends to organize production of forklift trucks in Uzbekistan. About US$50 million will be allocated to the project implementation.

South Korean Everdigm will create a joint venture to produce construction machinery in cooperation with Uzavtosanoat. The Korean side will invest US$3 million to this project.

The documents were signed during the state visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to the Republic of Korea.