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.