Uzbek-Korean Business Forum in Tashkent strengthens partnership and opens new horizons in the field of green energy

On July 5, Tashkent hosted an Uzbek-Korean business forum dedicated to the official visit of the delegation of the South Korean city of Ulsan. The event was attended by over 100 representatives of business circles and government agencies of both countries. The forum was another step in strengthening economic cooperation between Uzbekistan and the Republic of Korea.

The meeting was chaired by Deputy Prime Minister of Uzbekistan Jamshid Khodjayev and Mayor of Ulsan Kim Do Kyung. During the plenary session, it was noted that the strategic partnership demonstrates steady positive dynamics. Both sides confirmed their intention to deepen cooperation in priority sectors and develop conditions for a long-term investment presence.

Key attention at the forum was paid to the investment potential of Uzbekistan. Among the priority areas are energy, electrical industry, tourism and industrial cooperation. Specific projects and measures to support foreign investors were presented, including in the framework of reforms to modernize infrastructure and digitalize industry.

One of the main outcomes of the forum was the signing of an agreement on strategic cooperation in the field of green energy. The document formalized the intentions to implement joint projects between the Ministry of Energy of Uzbekistan, the Assembly of Economy of Uzbekistan, the City Hall of Ulsan and a number of leading South Korean corporations, including Hyundai Engineering, Samsung C&T, LG Energy Solution, Korea East-West Power, Doosan Enerbility and LS Electric.

The new format of cooperation involves the development of sustainable energy, including the use of renewable sources, the introduction of energy-efficient technologies and the creation of localized production of components for alternative energy.

In addition to the plenary session, the forum included B2B and B2G negotiation sessions, during which entrepreneurs and government representatives discussed practical mechanisms for launching new initiatives. Proposals for establishing joint ventures, developing export potential, as well as transferring technologies and educational programs were considered.

The Forum proved the high level of trust between the two countries and demonstrated the willingness of business circles to expand direct cooperation. The focus on sustainable development and technological partnership forms a platform for long-term mutually beneficial cooperation.