Korea, Uzbekistan push business ahead of summit

South Korea and Uzbekistan can seek stronger cooperation in a range of fields, including critical minerals, artificial intelligence, business and government, the leaders of the two nations said at the Korea-Uzbekistan Business Roundtable in Seoul on Tuesday.

The event, attended by top officials, including Uzbek Deputy Prime Minister Jamshid Khodjayev and South Korea's Trade Minister Yeo Han-koo and Deputy Minister for International Economic Affairs Moon Ji-sung, also pointed to advanced manufacturing and infrastructure as key areas of cooperation.

Saying that bilateral trade grew 13 percent in the first half, Khodjayev called for increased engagement with Korean companies and discussed potential government support for Korean companies operating in or considering investment in Uzbekistan.

“We invite Korean businesses to actively participate,” he said.

On the Korean side, Yeo and Moon highlighted Uzbekistan's role as Seoul prepares to host the inaugural Korea-Central Asia Summit slated for Sept. 16-17.

“The Korean government intends to use the summit as an opportunity to further deepen cooperation with Central Asian countries,” Yeo said.

“Among these countries, Uzbekistan is one of Korea’s key partners.”

Yeo said bilateral economic ties had expanded considerably since the two countries established diplomatic relations in 1992.

He described the upcoming summit as “an important turning point” in building a future-oriented partnership between Korea and the region.

Moon, meanwhile, pointed to AI, biotechnology, advanced infrastructure and supply chains as areas where the two countries could deepen cooperation amid shifts in the global economy.

He described Uzbekistan as an “extremely important strategic partner” for Korea as global production networks and supply chains undergo rapid changes.

“If Uzbekistan’s abundant potential ... is combined with Korea’s technology, experience and financial capabilities, cooperation between our two countries can advance to an entirely new level,” Moon said.

Moon also highlighted President Shavkat Mirziyoyev's interest in expanding cooperation with Korea in AI, energy, biotechnology and advanced infrastructure, as well as efforts to improve the investment environment for Korean companies.

Seoul plans to use high-level government channels to address difficulties faced by companies operating in Uzbekistan, Moon said.

For commercially viable projects benefiting both countries, the Korean government will also explore support through policy-financing instruments, including the Economic Development Cooperation Fund and export financing.

“Governments can create the foundation for cooperation, but ultimately, it is you — the business leaders — who will build a new chapter of history upon that foundation,” Moon said.

More than 35 companies participated in the roundtable, including Hyundai Motor Group, Daewoo E&C, CJ Group, DL E&C, GS E&C, KEPCO, Mega Coffee and Hana Tour.

The roundtable underscored the private-sector role in the economic agenda taking shape ahead of the Korea-Central Asia Summit, as Seoul and Tashkent seek to translate expanding bilateral ties into concrete investment and industrial projects.