President Yoon Suk Yeol of South Korea will embark on a state visit to Turkmenistan, Kazakhstan, and Uzbekistan next week, aiming to fortify business ties and explore new avenues for collaboration with Central Asian nations, as confirmed by the presidential office on June 7.
Accompanied by First Lady Kim Keon Hee, President Yoon will commence the trip on June 10 and conclude the visit on June 15. This journey signifies a strategic move by Seoul to blend South Korea's innovative capabilities with Central Asia's economic potential, grounded in mutual trust and solidarity, according to Kim Tae-hyo, the first deputy director of the presidential National Security Office.
President Yoon will engage with the leaders of the three countries to enhance bilateral partnerships across various sectors. These discussions will encompass energy and chemical plant construction, health care, education, and the critical minerals supply chain, Kim Tae-hyo revealed during a briefing.
The trip will also lay the groundwork for a planned six-way summit next year involving Kazakhstan, Uzbekistan, Turkmenistan, Tajikistan, and Kyrgyzstan. This summit, set to initiate its first meetings in South Korea, aims to further regional cooperation and economic integration.
President Yoon's visit is part of a broader strategy known as the K-Silkroad Initiative, aimed at fostering multilateral relationships with Central Asia, a region that hosts a significant Korean diaspora known as Koryoin. This initiative follows Yoon's recent summits with leaders from Pacific Island nations and African countries, reflecting South Korea's expanding diplomatic footprint.
On June 10-11, President Yoon and First Lady Kim are to arrive in Ashgabat. Yoon will meet with President Serdar Berdimuhamedow and People's Council of Turkmenistan Chair Gurbanguly Berdimuhamedow.
The South Korean delegation will then fly to Astana where President Yoon will hold a summit with President Kassym-Jomart Tokayev on June 12.
Yoon will be received by President Shavkat Mirziyoyev in Tashkent on June 14. The visit will conclude with a tour of Samarkand, one of Central Asia's oldest cities, on Saturday.
Each nation will host a business summit during Yoon's visit, involving South Korean business leaders, though specific details regarding the participating entities have not been disclosed.
These summits are expected to pave the way for substantial economic collaboration and investment opportunities, enhancing South Korea's presence in the Central Asian market.
The trade turnover between Uzbekistan and Korea from January to March 2024 reached $544.1mn. During this period, Uzbekistan exported goods worth $10.9mn to Korea, while imports from Korea totaled $533.2mn.
Similarly, Kazakhstan and South Korea have successfully completed seven projects worth $188.9mn in Kazakhstan, resulting in the creation of over 2,700 new jobs. Currently, 15 joint investment projects with a total value of $854.4mn are in progress, expected to generate more than 4,700 jobs. These initiatives include the manufacturing of buses, trucks, and elevators, highlighting the diversification and expansion of Kazakhstan's industrial sector.
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