Uzbekistan-South Korea joint ventures near 1,000, Korean investment exceeds $8bn
During the Asian Development Bank Board of Governors meeting in Samarkand on May 3, the President of Uzbekistan Shavkat Mirziyoyev received a delegation from the Republic of Korea led by Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol to discuss the further development of bilateral cooperation and expansion of the Uzbek–Korean special strategic partnership.
At the beginning of the meeting, the Korean side conveyed greetings and best wishes from the President of the Republic of Korea Lee Jae-Myung. The parties also noted the results of their previous meeting held in New York, which both sides assessed as contributing to the continuity of high-level dialogue.
The discussions focused on strengthening cooperation in trade, economic, and investment areas. Both sides highlighted that bilateral relations, supported by historical ties and shared values, continue to develop steadily.
Economic indicators were reviewed during the talks. It was noted that mutual trade has shown growth since the beginning of the year, while the number of joint ventures operating in Uzbekistan has reached around 1,000. The total volume of Korean investment in Uzbekistan has exceeded $8bn. The possibility of establishing a special industrial zone for Korean companies in Uzbekistan was also considered.
Cooperation with Korean financial institutions was identified as an important component of bilateral engagement. In particular, projects implemented with the Export-Import Bank of Korea and related funds were highlighted, with a combined portfolio exceeding $2bn.
Ongoing joint projects include the construction of a multidisciplinary clinic, a chemical technology center, and a pharmaceutical park. In the transport sector, the first Hyundai Rotem train has begun operating on the Tashkent–Khiva route.
Further discussions focused on developing new investment projects in priority sectors, expanding interregional cooperation, and strengthening collaboration in digital public finance management systems.
The importance of preparing for upcoming high-level events, including the Central Asia–Korea summit scheduled to take place in Seoul, was also emphasized as part of continued diplomatic engagement between the two sides.
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Uzbekistan-South Korea joint ventures near 1,000, Korean investment exceeds $8bn
President Shavkat Mirziyoyev recently met with a delegation led by Koo Yun-cheol during the Asian Development Bank Board of Governors meeting to advance bilateral cooperation, expand investment ties, and deepen the Uzbek–Korean special strategic partnership.
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