Eximbank to Cooperate with Uzbekistan on Key Minerals and AI...Supporting Korean Companies’ Expansion into Local Market
On the Occasion of the Korea-Central Asia Summit
Strategic Project Discovery MOU Signed with Uzbekistan
The Export-Import Bank of Korea is strengthening cooperation with Uzbekistan across strategic industries such as key minerals, artificial intelligence (AI), and pharmaceuticals and biotechnology, while supporting Korean companies as they expand into the local market.
On September 15, the Export-Import Bank of Korea announced that it had signed a “Memorandum of Understanding (MOU) for Establishing a Strategic Project Discovery System” with Uzbekistan’s Ministry of Investment, Industry and Trade.
This agreement was signed during the Korea-Uzbekistan summit, which was held on the occasion of the 1st Korea-Central Asia Summit. With President Lee Jaemyung of Korea and President Shavkat Mirziyoyev of Uzbekistan in attendance, Hwang Kiyeon, President of the Export-Import Bank of Korea, and Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan, signed the agreement.
The areas of cooperation cover Uzbekistan’s six national strategic industries, including key minerals, AI and digital, advanced infrastructure, the establishment of specialized industrial complexes for Korean companies, pharmaceuticals, and biotechnology.
Based on this agreement, the Export-Import Bank of Korea plans to proactively identify promising and mutually beneficial projects for both countries and seek financial support measures necessary for project implementation.
Additionally, leveraging this summit, the aim is to expand strategic economic partnerships with Uzbekistan and other Central Asian countries and to support the advancement of Korean companies into local markets through multiple approaches.
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President Hwang stated, “This MOU will serve as a powerful foothold for our companies’ entry into the Uzbekistan and Central Asia markets,” adding, “We will do our utmost to further accelerate economic cooperation between the two countries and achieve tangible results through financial support.”
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