President Shavkat Mirziyoyev participates in first Central Asia – Korea Business Summit

Continuing his stay in Seoul, President of the Republic of Uzbekistan Shavkat Mirziyoyev took part in the first Central Asia – Republic of Korea Business Summit.

The event was also attended by President of the Republic of Korea Lee Jae Myung, President of the Republic of Kazakhstan Kassym-Jomart Tokayev, President of the Kyrgyz Republic Sadyr Japarov, President of the Republic of Tajikistan Emomali Rahmon, and President of Turkmenistan Serdar Berdimuhamedov.

Welcoming the participants of the Business Summit, the President of Uzbekistan noted with satisfaction that the “Central Asia – Korea” format is today reaching a qualitatively new level.

The President of Uzbekistan proposed building cooperation on the principle of complementary strengths, so that Korean companies view Central Asia as a single space of opportunities with a population of more than 80 million, growing demand, and significant resource, energy, and human potential.

The Leader of Uzekistan placed particular emphasis on industrial cooperation and the development of complete production chains in Central Asia based on each country’s raw material resources. Uzbekistan, for example, has mineral resources estimated to be worth at least $3 trillion.

In the critical minerals sector, 120 projects worth more than $4 billion are planned for implementation in the coming years.

President Shavkat Mirziyoyev proposed combining the region’s resource base with Korea’s financial and technological capabilities, focusing not on raw material exports, but on deep processing and the production of finished high-tech products.

Joint research, the introduction of advanced technologies, and personnel training were identified as important areas of cooperation. The President proposed attracting Korean companies, universities, and research centers to the countries of the region and establishing a unified partnership to develop new products and intellectual property.

Particular attention was given to artificial intelligence, which has the potential to generate at least $10 billion in added value in each country’s economy within five years. To this end, an artificial intelligence data center hub offering significant incentives has been established in Karakalpakstan. Korean companies were invited to invest in this sector.

President Shavkat Mirziyoyev noted the prospects for cooperation in semiconductor and microelectronics production. A joint Center for Semiconductor Design and Testing, Industrial Microelectronics, and New Materials is being established at the Future Technologies Center in Nurafshan.

Uzbekistan is ready to create favorable conditions for Korean and Central Asian companies to establish research and development units and laboratories.

Particular potential also exists in biotechnology and pharmaceuticals. Uzbekistan’s market for medicines and medical products has already reached $3 billion. The President of Uzbekistan proposed creating a biopharmaceutical cluster integrating research, clinical facilities, and production.

The main focus in this regard was placed on training specialists, including the launch of a unified regional program to train engineers and organize internships for them in laboratories and at leading enterprises in Korea.

Korean companies were invited to implement projects in copper processing, electrical equipment production, localization of components for the automotive and electric vehicle industries, robotics and automation, biotechnology and pharmaceuticals, hydropower, energy storage systems, modernization of energy networks, as well as the development of transport and urban infrastructure.