Uzbekistan Launches Incheon Hub To Support Exports To South Korea
This was reflected in the statement by the Ministry of Investment, Industry and Trade of Uzbekistan.
The facility was inaugurated September 12 with the participation of Shokhrukh Gulamov, Uzbekistan's deputy minister of investment, industry and trade, as the country seeks to expand market access for domestic exporters and improve logistics for shipments to South Korea.
Located on the premises of Incheon International Airport, the warehouse will allow Uzbek exporters to temporarily store goods and complete customs clearance and quarantine procedures in South Korea.
The facility is also expected to reduce logistics-related costs by an average of up to $1,000 per container, potentially making Uzbek products more competitive in the Korean market.
“The customs warehouse will create more convenient logistics opportunities for Uzbek exporters and help expand access for domestic products to the South Korean market,” Uzbekistan's Ministry of Investment, Industry and Trade said.
The initiative is designed to give Uzbek companies a local logistics point from which to manage shipments after they arrive in South Korea, potentially reducing the need for exporters to arrange separate storage and processing facilities.
More than 20 Uzbek exporters have already expressed interest in using the customs warehouse, according to the ministry.
The facility is expected to support exporters seeking to enter or expand their presence in the Korean market by providing temporary storage and facilitating customs and quarantine procedures in one location.
The launch comes as Uzbekistan and South Korea are working to deepen trade and economic ties, with both sides seeking to expand exports, investment and industrial cooperation.
Improving logistics infrastructure is an important component of Uzbekistan's efforts to increase the presence of domestic products in foreign markets. The Incheon facility provides Uzbek exporters with a physical foothold in one of South Korea's major international transport hubs.
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