Uzbekistan, South Korea Deepen Strategic Partnership with $12 Billion Investment Pipeline

SEOUL: President of Uzbekistan Shavkat Mirziyoyev held detailed talks with President of the Republic of Korea Lee Jae Myung in Seoul, focusing on further strengthening the special strategic partnership between Uzbekistan and South Korea.The talks were held in a restricted format as well as with the participation of members of the official delegations of the two countries.President Lee Jae Myung warmly welcomed President Mirziyoyev, describing his visit as an important milestone in the history of bilateral relations based on friendship, mutual respect and close cooperation.

President Mirziyoyev said South Korea had become a trusted friend and one of Uzbekistan’s most important economic partners over the years. The two sides noted the steady growth in bilateral trade and investment.More than 700 joint ventures with Korean investment are currently operating in Uzbekistan, while major South Korean companies including Samsung, LG, Lotte, Young One, BOMI and KIA are active in the Uzbek market.Major projects such as KIA automobile production facilities in Jizzakh, the National Children’s Medical Center, and the Ustyurt Gas Chemical Complex based on the Surgil gas field were highlighted as successful examples of investment cooperation.The two sides also reviewed cooperation with the Korea International Cooperation Agency (KOICA), Korea Eximbank and the Economic Development Cooperation Fund (EDCF) in healthcare, industry, information technology, agriculture and water management, energy, infrastructure and education.President Mirziyoyev outlined five priority areas for expanding economic cooperation with South Korea, including increasing bilateral trade, expanding investment, and developing cooperation in critical minerals, transport and infrastructure.Following the current visit, the bilateral investment portfolio is expected to expand further.

Prospective projects worth nearly $12 billion have been prepared, while a $8 billion Strategic Cooperation Programme has been adopted with Korea Eximbank.The leaders also emphasized the importance of establishing a strong innovation and technological alliance by combining South Korea’s advanced technologies with Uzbekistan’s industrial and resource potential.The proposed alliance will focus on information technology and cybersecurity, as well as the introduction of advanced digital and high-tech solutions in healthcare, medicine and the pharmaceutical industry.The two sides expressed readiness to further develop military-technical cooperation, including expanding inter-agency contacts, organizing joint activities and providing training for military specialists.The presidents welcomed the outcome of the first-ever Interregional Forum between Uzbekistan and South Korea and agreed to hold the next forum in Samarkand.Education and human resource development also featured prominently in the discussions. Four South Korean university branches are currently operating in Uzbekistan, providing training in areas including education, information technology, engineering, digital technologies and other priority fields.The leaders also noted the effective operation of five vocational training centers established in Uzbekistan with KOICA support, providing young people with opportunities to strengthen their skills and develop their professional potential.

They stressed that a forum of rectors of higher education institutions from both countries could play an important role in promoting practical cooperation and the exchange of experience in human resource development.The two presidents further emphasized the importance of cultural exchanges in strengthening friendship and mutual understanding between the peoples of Uzbekistan and South Korea.

President Mirziyoyev described Uzbekistan’s large Korean diaspora as an integral part of the country’s multi-ethnic society and a “spiritual bridge” between the two nations.In this regard, the two sides agreed to declare 2027 the “Year of Culture and Exchanges” and organize joint cultural and humanitarian events.The meeting concluded with both sides confirming the closeness of their positions on key regional and international issues.

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