Uzbekistan and South Korea collaborate on $9.6 billion project portfolio

President of Uzbekistan Shavkat Mirziyoyev and President of South Korea Yoon Suk Yeol recently engaged in negotiations with the participation of official delegations from both countries. The leaders highlighted the formation of a new portfolio of projects worth $9.6 billion in key sectors of the economy in preparation for the summit.

During the discussions, the importance of establishing a new high-tech agenda for the Uzbek-Korean special strategic partnership over the next three years was emphasized. President Mirziyoyev proposed declaring this period as “A new time of high-tech and innovative cooperation between the two countries.”

Several priority areas of interaction were identified as crucial components of the strategy, including critical Mineral Resources Partnership, strategic cooperation in semiconductors, full-scale partnership in the chemical industry, deepening cooperation in mechanical engineering, technology transfer for “smart” agriculture, infrastructure modernization, and modern energy solutions.

Furthermore, agreements were made on new projects under the EDCF fund totaling $2 billion, including the supply of high-speed electric trains and the implementation of projects in the pharmaceutical and educational sectors. Additionally, proposals to establish an institute in Uzbekistan based on the model of the Korea Advanced Institute of Science and Technology (KAIST) were supported.

Efforts to enhance cooperation in artificial intelligence, business process outsourcing, and digital technologies were also discussed, with plans to create a Center for Training in Digital Technologies and Artificial Intelligence at the Academy of Public Administration in Tashkent in partnership with Korean institutions.

To foster closer ties between the peoples of both countries, it was suggested to designate the upcoming year as the “Year of Mutual Exchanges between Uzbekistan and Korea”, with various cultural events planned. The negotiations concluded with the agreement to develop “roadmaps” for each area of cooperation with specific timelines and implementation mechanisms.



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