Uzbekistan, South Korea Anchor Strategic Partnership In $12B Projects

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 14. Uzbekistan and South Korea have prepared a portfolio of prospective projects worth about $12 billion and agreed on an $8 billion strategic partnership program with Korea's Export-Import Bank.

This was reflected in the statement by the press service of the Uzbek president, following talks between President Shavkat Mirziyoyev and South Korean President Lee Jae Myung in Seoul, held in both a limited format and with the participation of delegation members.

According to the information, in the course of the meeting, Korean President described Mirziyoyev's visit as an important event in the history of bilateral relations, which have traditionally been built on friendship and mutual respect.

Mirziyoyev, in turn, described South Korea as a reliable friend and one of Uzbekistan's most important economic partners.

"The leaders welcomed growth in bilateral trade and investment and highlighted the presence of more than 700 joint ventures with Korean capital operating in Uzbekistan. Major Korean companies active in the Uzbek market include Samsung, LG, Lotte, Young One, BOMI and KIA," the press service said.

Total Korean investment in Uzbekistan's economy has exceeded $8 billion, with major projects including KIA vehicle production in Jizzakh region, the National Children's Medical Center and the Ustyurt Gas Chemical Complex at the Surgil field.

The leaders identified five priority areas for further economic cooperation: expanding trade, increasing investment, developing cooperation in critical minerals, and strengthening transport and infrastructure ties.

"The numerous Korean diaspora is an integral part of the multinational family of Uzbekistan and serves as a "spiritual bridge" between our countries and peoples," the press service noted.

The sides also agreed to build a stronger innovation and technology alliance combining South Korea's advanced technologies with Uzbekistan's industrial and resource potential.

The proposed alliance will focus on information technology, cybersecurity, advanced and digital technologies in medicine and health care, and pharmaceutical production.

Cooperation with the Korea International Cooperation Agency (KOICA), Korea Eximbank and the Economic Development Cooperation Fund (EDCF) is already supporting dozens of projects in health care, industry, ICT, agriculture, water management, energy, infrastructure and education.

The leaders also emphasized the importance of stronger contacts between parliaments, government agencies, regional administrations and business communities.

Education and workforce development featured prominently in the talks. Four branches of South Korean universities currently operate in Uzbekistan, training specialists in education, IT, engineering, digital technologies and other priority fields. Five vocational training centers established with KOICA assistance also provide Uzbek youth with professional skills.

The sides highlighted the role of the University Presidents Forum in exchanging experience on workforce training and agreed to continue strengthening educational cooperation.

They also welcomed the first-ever Interregional Forum held ahead of the presidential talks and agreed to hold its next edition in Samarkand.

Cultural and humanitarian ties were another focus. Mirziyoyev emphasized the role of Uzbekistan's Korean diaspora as a“spiritual bridge” between the two countries.

The sides agreed to designate 2027 as the Year of Culture and Mutual Exchanges, with a program of joint cultural and humanitarian events.

The leaders also noted the convergence of their positions on issues on the regional and international agenda and reaffirmed their commitment to maintaining close political dialogue.

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