Uzbekistan and South Korea Launch Joint Production and Begin Construction of Facilities

President of Uzbekistan Shavkat Mirziyoyev and Prime Minister of the Republic of Korea Han Song-sook held a meeting at the Uzbek-Korean Business Forum in Seoul on September 15, according to the state head's press service.

The event gathered over 300 participants from business and state structures of both countries, including heads of trading companies, industrial enterprises, and financial institutions.

The Korean side was represented by major companies such as Lotte Chemical, Hyundai Motor Group, Samsung C&T, CJ Group, Shinhan Financial Group, Hyundai Rotem, KIND, BOMI, Kia Corporation, Sampyo Group, Hansae Mobility, and others.

The head of Uzbekistan put forward several proposals for Korean partners. He suggested their participation in developing projects related to copper processing, production of electrical equipment, localization of components for electric vehicles and cars, creation of robotic production facilities, development of hydropower and energy storage systems, as well as modernization of transport, urban, and energy infrastructure.

Furthermore, the president proposed establishing an Uzbek-Korean Industrial and Technological Alliance, which should serve as the basis for joint initiatives.

Five new projects were inaugurated during the forum. The Center for Chemical Technologies was launched in Tashkent, and the production of body panels and Kia Sonet Prime cars began in the Jizzakh region. Electrical engineering products opened in the Fergana region, and polymer product manufacturing started in Namangan.

In parallel, construction began in Tashkent for the National Oncology Center, as well as a higher medical educational institution and an enterprise engaged in the production of robots and their components.

As a result of the forum, the sides signed a set of investment and trade and economic agreements, although their exact composition and total value have not yet been disclosed.

According to clarification from the South Korean agency Newsis, Uzbekistan's Minister of Mining and Geology Bobir Islamov and the head of the Korea Export-Import Bank Hwang Gi-yong signed a memorandum. This document provides for the creation of a hub for the production and processing of strategic minerals and the formation of corresponding supply chains.

The day before, Uzbekistan and the Republic of Korea exchanged thirteen intergovernmental and interdepartmental documents. These agreements include plans for Uzbekistan to acquire eight more high-speed trains, the establishment of a national genomics center and biobank, promotion of critical mineral projects, and integration of artificial intelligence into industry.

Uzbekistan's President Shavkat Mirziyoyev proposed to major Korean corporations such as Samsung, LG, Hyundai, Kia, and Lotte to shift from imports to establishing fully localized, high-tech production centers in Uzbekistan.

This initiative is aimed at elevating the interaction between the Republic of Korea and Uzbekistan to a new level of cooperation, comparable to the concept of the 'New Silk Road,' and ensuring deep integration in the fields of high technology, industry, and processing of critical minerals.

This was reported in an article published by the South Korean publication The Chosun Ilbo following the head of Uzbekistan's state visit to Seoul. In his piece, Shavkat Mirziyoyev noted the perfect alignment of the economic interests of Tashkent and Seoul: Uzbekistan aims for deep integration into global value chains, while South Korea is interested in diversifying resource sources and stable markets.

The partnership has a solid foundation: Korean investments in the Uzbek economy exceed $8 billion, over 700 joint projects operate in the country, and bilateral trade has increased fivefold in recent years. Furthermore, joint programs implemented through KOICA and Eximbank of Korea (EDCF) have reached a volume of over $3.5 billion, and Uzbekistan became the first country in the region to acquire South Korean high-speed trains.

Priority areas for establishing technological hubs have been identified as artificial intelligence, semiconductors, microelectronics, electric vehicle manufacturing, robotics, biopharmaceuticals, and the development of 'smart' agriculture. Special attention is paid to utilizing Uzbekistan's rich natural resources in combination with Seoul's advanced technologies to form new logistics chains.

The publication also emphasizes the importance of human potential development, which implies expanding academic exchanges, creating research and development (R&D) centers, and joint specialist training. The head of state referenced the Uzbek proverb 'One horse cannot raise dust,' drawing a parallel with Korean wisdom on the benefits of collective labor.

Beyond economic issues, the article highlights the cultural closeness of the peoples, shared values, and support for Seoul's efforts to achieve peace on the Korean Peninsula. Mirziyoyev personally invited South Koreans to visit cities such as Samarkand, Bukhara, Khiva, Termez, and Tashkent. During his visit, Shavkat Mirziyoyev intends to hold talks with President Lee Jae-myung, and the first 'Central Asia – Republic of Korea' summit is scheduled for September 16, after which the Seoul Declaration is expected to be adopted.