South Korea and Uzbekistan established diplomatic relations in January 1992, following South Korea's recognition of Uzbekistan's independence in December 1991. The early 1990s marked the beginning of a dynamic and productive relationship between the two nations, covering political, economic, and cultural spheres. South Korea quickly opened its embassy in Tashkent, and Uzbekistan reciprocated by opening its embassy in Seoul.
Economic and Cultural Ties
Uzbekistan is home to the largest Korean diaspora in Central Asia, known as "Goryeo-in" or "Goryeo-saram” with over 170,000 Koreans living in Uzbekistan as stated by President Yoon Suk Yeol of the Rebublic of Korea in an exclusive interview with Dunyo recently. Over the decades, Koreans have successfully adapted to local culture and hold notable positions in society, giving Uzbekistan a unique place in South Korea’s foreign policy.
The economic relationship between the two countries has been particularly strong. In the 1990s, major Korean companies began investing in Uzbekistan, with Daewoo making significant strides in the automobile industry. Energy cooperation also became a cornerstone of their relationship, with the Korean National Energy Corporation and Uzbek counterparts engaging in oil and natural gas exploration in the Ustyurt area. A $4bn complex was built and opened in 2016.
Transportation has played a crucial role in bilateral economic relations. Korean companies modernized Navoi Airport in the late 2000s, connecting Uzbekistan to the world and contributing to the development of the Navoi Free Industrial Economic Zone. These efforts have positioned South Korea as Uzbekistan's fourth-largest trade partner.
Strategic Partnerships and High-Level Visits
The relationship between South Korea and Uzbekistan was further solidified with the signing of a strategic partnership declaration in 2006. This partnership was deepened during former President Park Geun-hye's visit to Tashkent in 2014, and during President Karimov's visit to South Korea in 2015 where they signed 60 documents worth $7.7bn related to trade, investment, economic, and technical cooperation.
In 2016, South Korean Prime Minister Hwang Kyo-ahn visited Uzbekistan to join former Prime Minister Shavkat Mirziyoyev in inaugurating the Ustyurt Gas Chemical Complex, the largest bilateral cooperation project to date.
Current Economic Collaboration
Uzbekistan is one of South Korea's largest partner in emerging Europe and Central Asia with trade reaching $1.9bn in 2021 and $2.34bn in 2022 and 2023 with South Korean investments in Uzbekistan exceeding $7bn as reported earlier by Daryo. Over 500 Korean companies operate in Uzbekistan, including major firms like Samsung, LG, Lotte, and Hyundai.
The countries have established several free economic zones, such as Navoi and Angren, and are working on an Agreement on Sustainable Trade and Economic Partnership (STEP) to further enhance economic ties.
President Yoon Suk-Yeol’s Central Asia Visit
South Korean President Yoon Suk-Yeol is visiting Turkmenistan, Kazakhstan, and Uzbekistan from June 10 to 15, 2024. This visit is notable as it marks the first state visit to Turkmenistan by a South Korean president in five years. Accompanied by First Lady Kim Keon Hee and representatives from over 60 Korean companies, President Yoon aims to deepen bilateral partnerships and participate in business forums in each country.
In Kazakhstan, President Yoon held a summit with President Kasym-Jomart Tokayev to discuss enhancing the bilateral strategic partnerships, met with ethnic Koreans and South Korean citizens and participated in a Kazakh-Korean business forum.
In Uzbekistan, the President will meet with the Uzbek leader and attend a bilateral business forum. This visit is a critical step in launching the Korea-Central Asia Initiative, also known as the K-Silk Road or ROAD, focusing on resources, official development assistance, alliance, and development cooperation.
Future Directions and Strategic Goals
The Korea-Central Asia Initiative highlights South Korea's broader strategy within the Eurasian context, enhancing cooperation in transportation and energy. The primary goals of the Eurasia Initiative include promoting peaceful prosperity in the region and addressing North Korea's nuclear ambitions through engagement and economic integration. A key component of this initiative is the development of a trans-Korean railway (TKR) that would connect South Korea to the broader Eurasian Land Bridge reducing overland shipping costs and boosting South Korea's export capabilities.
President Yoon's tour emphasizes specific cooperation priorities in each Central Asian country, focusing on areas such as energy, infrastructure, and cultural exchange. By intensifying its role in Central Asia, South Korea aims to foster stronger ties, promote regional development, and enhance its strategic influence in the region.
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