🇺🇿🇰🇷Uzbekistan is looking forward to the visit of a delegation from the Korean Federation of Small and Medium Enterprises (K-BIZ) in June this year
The South Korean business community has shown great interest in expanding its presence in Uzbekistan, especially in sectors such as energy, technology and manufacturing.
The delegation will include representatives of various South Korean companies, including representatives of large conglomerates and small innovative firms.
The purpose of the visit is to explore investment opportunities and discuss potential joint ventures. In addition to exploring new investment opportunities, the Korean side intends to expand on earlier agreements.
⏺South Korea has already invested in Uzbekistan's energy sector, focusing on both traditional and renewable energy sources. For example, Korean companies are involved in the modernization of energy infrastructure, implementing projects such as the Ustyurt Gas Chemical Complex, which includes gas processing and petrochemical production.
⏺South Korea shares its experience in the IT sector. One example of investment in education is the Yeoju Technical Institute in Tashkent, which specializes in information technology and engineering.
⏺South Korean companies have interests in telecommunications, providing equipment and technology to expand and modernize networks in Uzbekistan.
⏺South Korea's manufacturing capabilities, especially in electronics, automotive, and textiles, have led to joint ventures and partnerships in Uzbekistan. In the automotive industry, for example, Korean companies such as Kia and Hyundai are setting up assembly lines or participating in local production.
⏺Cotton production in Uzbekistan is well known, and South Korean textile companies have invested in processing and production, benefiting from local raw materials and providing technology and market access for finished products.
⏺Korean businesses are attracted to Uzbekistan's free economic zones, which provide tax incentives and other benefits. In Navoi and Angren, Koreans are involved in logistics and production projects.
Mutual interest is driven by South Korea's need to diversify its economic ties beyond traditional markets and Uzbekistan's desire to industrialize, modernize and integrate into global supply chains. #CentralAsia #Uzbekistan
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