Shavkat Mirziyoyev and the Prime Minister of South Korea gathered representatives of 300 business giants

As part of the state visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to the Republic of Korea, one of the largest and most prestigious events in the history of economic relations between the two countries — the Uzbekistan–Korea business forum took place. Opened under the leadership of the head of our state and the Prime Minister of the Republic of Korea, Han Duck-soo, this summit was attended by over 300 government officials, heads of major financial institutions, and world-renowned industrial giants from both sides. The forum hall brought together top-tier leaders of transnational corporations that have become global brands, such as Samsung C&T, Hyundai Motor Group, Lotte Chemical, CJ Group, Kia Corporation, Hyundai Rotem, and Shinhan Financial Group.

In his speech, President Shavkat Mirziyoyev emphasized that Korea is a time-tested strategic partner of Uzbekistan and put forward a new national initiative — the creation of the "Uzbekistan – Korea Industrial-Technological Alliance," which combines our country's vast natural resource potential with South Korea's advanced technologies and investment opportunities. Now, Korean companies are being invited not only to traditional projects, but also to sectors such as deep copper processing, semiconductors, robotics, microelectronics, and artificial intelligence. So, what decisions were made in negotiations with 300 billionaires and corporate leaders, what will the "Industrial Alliance" bring to our country, and what conditions did Tashkent guarantee for Korean investors?

"Global giants in one hall": 300 leading business representatives

The scale and main participants of the joint business forum held in Seoul:

• Led by the leadership of the two countries: The business forum started with the direct participation of the President of Uzbekistan Shavkat Mirziyoyev and the Prime Minister of the Republic of Korea, Han Duck-soo;

• Over 300 business leaders: A comprehensive delegation consisting of government structures, major trade enterprises, the private sector, and influential international financial institutions gathered at the event;

• Participation of top brands: The list of Korean corporations that directly participated in the forum included global industry flagships such as Lotte Chemical, Hyundai Motor Group, Samsung C&T, CJ Group, Shinhan Financial Group, Hyundai Rotem, KIND, BOMI, Kia Corporation, Sampyo Group, and Hansae Mobility.

Union of resources and technologies: "Industrial-Technological Alliance"

The new geoeconomic strategy put forward by the President:

• Triple formula: The head of our state proposed creating bilateral growth points by harmonizing Uzbekistan's rich raw material and resource reserves with Korea's unique advanced technologies and vast investment opportunities;

• Full value chain: Strengthening industrial cooperation and forming a complete production system delivering raw materials to finished products was defined as a priority task;

• New Industrial Alliance to be created: To bring technological cooperation between the two countries to a new institutional level, the initiative to officially establish the "Uzbekistan – Korea Industrial-Technological Alliance" was announced.

From microchips to robots: 8 main areas offered to investors

Key projects planned with Korea in Uzbekistan's industrial development:

• Copper and electrical engineering industry: Establishing deep processing of local copper raw materials and producing high-precision electrical engineering equipment;

• Automobiles and electric vehicles: Localizing spare parts and components for cars and new-generation electric vehicles with the participation of Hyundai and Kia;

• Future technologies: Establishing direct cooperation in the fields of artificial intelligence (AI), digitalization, semiconductors, and microelectronics;

• Innovative medicine and pharmaceuticals: Opening biotechnology clusters and establishing joint research and practical studies;

• "Green energy" and network modernization: Modernizing hydropower, energy storage systems (ESS), and urban infrastructure;

• Full guarantee to investors: Shavkat Mirziyoyev firmly emphasized that the government of Uzbekistan is ready to provide the most favorable conditions, privileges, and comprehensive state support for Korean investors and business representatives in implementing projects.

There is no doubt that this historic meeting of the President of Uzbekistan in Seoul will mark a huge turning point in transforming our country's industry from a raw material exporter into a regional innovation hub producing high-tech products.

How do you think the entry of a new wave of South Korean giants like Samsung, Hyundai, and Lotte into Uzbekistan with investment will stimulate the development of local industry and jobs? How do you assess the opportunity to produce our own microelectronics and electric vehicle components in our country through the "Uzbekistan – Korea Industrial-Technological Alliance"? Leave your analytical thoughts in the comments and share this important article concerning our economic future with all your colleagues and entrepreneurial friends!