It is five years since relations between Uzbekistan and South Korea were elevated to a special strategic partnership, the only one that Seoul has in Central Asia.
South Korean President Yoon Suk Yeol was on June 14 preparing for a summit with Uzbek counterpart Shavkat Mirziyoyev that he said would attempt to build on those special relations with enhanced cooperation in critical minerals, supply chains and cutting-edge technologies.
In an exclusive written interview with Uzbek news outlet Dunya, he highlighted Uzbekistan's growth potential and underscored its importance as a strategic location helping to connect the continents of Asia and Europe. He also pointed to its abundant resources.
'Despite the global crises, I believe this is an opportunity to deepen economic cooperation between our countries, including in key minerals and supply chains,' said Yoon, who is in Uzbekistan on the final leg of a three-nation Central Asia tour that first took him to Turkmenistan and then to Kazakhstan.
He added: 'During this visit, we plan to discuss ways to substantively develop bilateral relations in various fields, such as energy and infrastructure, health care, climate and environment, science and technology, and education.
'Korea hopes to build a Central Asian hub for advanced science and technology with Uzbekistan.'
President Shavkat Mirziyoyev (Credit: president.uz).
Yoon also reflected on Mirziyoyev's commendable record as a reformer and bridge builder, saying: “The Republic of Korea, which was once a country of absolute poverty, achieved economic and social development by opening up to the outside world, liberalising its economy, and fighting corruption in close cooperation with the international community. Building on this experience, the Republic of Korea supports Uzbekistan’s efforts in implementing reforms and, being a special strategic partner, will continue to collaborate closely in the social, economic, and democratic development of Uzbekistan.”
He also noted: “Although geographically we are far from each other, nevertheless, we are connected by a long and friendly history of exchanging advanced scientific achievements and technologies.”
Uzbekistan-South Korea trade moved up from $1.9bn in 2021 to $2.3bn in 2022 and 2023. South Korean investments in Uzbekistan have exceeded $7bn. Around 170,000 Koreans live in the country, Central Asia’s most populous with a population of more than 35mn, while over 500 Korean companies operate there, including household names such as Samsung, LG and Hyundai. The two countries have also established several free economic zones, such as in Navoi and Angren.
Accompanied by First Lady Kim Keon Hee and representatives from over 60 Korean companies, Yoon will on his visit attend a bilateral business forum. The visit is important to the launch of the Korea-Central Asia Initiative, also known as the K-Silk Road. Its programme includes efforts to secure the development of a trans-Korean railway (TKR) that would connect South Korea to the broader Eurasian Land Bridge, reducing overland shipping costs and boosting South Korea's export capabilities.
On the eve of the summit of the two presidents, Uzbekistan Railways signed an agreement with Hyundai Rotem for the purchase of electric trains.
Also on June 13, Uzbek Prime Minister Abdulla Aripov met with the heads of a number of leading Korean companies who will participate in the business forum. One of those was Shin Dong Ba, chairman of major conglomerate Lotte Group. Discussions centred on expanding joint projects.
At the meeting with the president of Exim Bank of Korea, Hee-sung Yoon, promising projects to expand cooperation in transport, green energy, mineral resources, education and medicine were discussed.
Aripov also held a meeting with the CEO of the Korea District Heating Corporation, Jeong Yongki. On the agenda were introducing cogeneration technologies and improving district heating systems, modernising existing plant and managing facilities according to the principles of public-private partnership (PPP).
On June 15, Yoon will visit the historic town of Samarkand on the ancient Silk Road.
