Jo He-rim
Some 500 government officials, lawmakers and business leaders gather at business forum in Tashkent Some 500 government officials, lawmakers, and business leaders gather at the Korea-Uzbekistan Business Forum, jointly organized by Herald Media Group and Uzbekistan's Ministry of Investment, Industry and Trade, at the InterContinental Tashkent, Uzbekistan, Tuesday. (Im Se-jun/The Korea Herald) TASHKENT, Uzbekistan — South Korea and Uzbekistan moved to deepen their economic partnership beyond infrastructure cooperation, as some 500 government officials, lawmakers and business leaders gathered for a business forum last week.The Korea-Uzbekistan Business Forum, jointly organized by Herald Media Group — publisher of The Korea Herald and The Herald Business — and Uzbekistan’s Ministry of Investment, Industry and Trade, was held Tuesday as both countries seek to broaden cooperation in transport, logistics, digital technology, energy and culture.The forum also served as a warm-up event for the first Korea-Central Asia Summit in Seoul in September, and as an affiliated event of the Tashkent International Investment Forum, Central Asia's largest investment and business gathering.South Korean President Lee Jae Myung delivered a congratulatory message noting that the forum came at a time of deep global uncertainty, marked by geopolitical risks and a reshaping of supply chains."At a time when resource security is directly tied to a nation's future, South Korea, with its advanced technology, and Uzbekistan, with its abundant energy resources, can turn crisis into opportunity and help both countries take another leap forward," Lee said in the message, read on his behalf by Herald Media Group President and CEO Choi Jin-young. Jung Won-ju (left), chairman of Herald Media Group, Jungheung Group and Daewoo Engineering & Construction, speaks with Alisher Agzamkhodjaev, chairman of the Senate Committee of the Oliy Majlis on International Relations, Foreign Economic Relations, Foreign Investments, and Tourism of Uzbekistan, on the sidelines of the Korea-Uzbekistan Business Forum on Tuesday. (Im Se-jun/The Korea Herald) Opening the forum, Jung Won-ju, chairman of Herald Media Group, Jungheung Group and Daewoo Engineering & Construction, underscored the depth of Korea-Uzbekistan ties. Uzbekistan, he noted, is the only Central Asian country with which Korea has established a special strategic partnership.“There is an Uzbek saying that a tree lives by its roots and a person lives by friends,” Jung said. “Korea's ties with Uzbekistan, as well as Daewoo's long history in the country, have not been built overnight, but on years of accumulated trust and friendship.”Jung highlighted Uzbekistan's rapid economic transformation, saying the country's growth potential was too significant for Korean companies to overlook.“I heard someone say Uzbekistan has achieved in eight years what might otherwise have taken 80 years. I believe that is true,” Jung said. “Given such growth potential, failing to invest in Uzbekistan would clearly be a loss for the Korean economy as well.”Pointing to infrastructure, logistics, data centers and AI-related industries as promising areas for future cooperation, Jung said Korea’s experience in airport-centered urban development could offer a useful reference for the next stage of Uzbekistan’s growth.“When data centers, logistics facilities and AI-powered semiconductor-related factories are built together in a new city, Uzbekistan’s economic opportunities will be limitless,” he said.Alisher Agzamkhodjaev, chairman of the Senate Committee of the Oliy Majlis on International Relations, Foreign Economic Relations, Foreign Investments, and Tourism, called on Korean companies to take a more active role in investing in Uzbekistan, particularly in mineral resource development, data centers and logistics complexes."This forum will serve as an important platform for creating new projects between the two countries," he said. Jung Won-ju, chairman of Herald Media Group, Jungheung Group and Daewoo Engineering & Construction, Alisher Agzamkhodjaev, chair of the Senate Committee on Foreign Relations, Foreign Economic Relations, Foreign Investment and Tourism of Uzbekistan, and other guests pose for a photo at the Korea-Uzbekistan Business Forum in Tashkent, Uzbekistan, Tuesday. From sixth from left are Uzbek Deputy Trade Minister Ilzat Kasimov, Korean Ambassador Won Do-yeon, Agzamkhodjaev, Jung, Rep. Kim Kyo-heung, BoMI E&C Chair Kim Deok-young, Rep. Yoon Jae-ok, Rep. Seo Young-seok, and Herald Media Group CEO Choi Jin-young . (Im Se-jun/The Korea Herald) Infrastructure was a central theme of the forum. Uzbekistan has pushed forward with major development projects, including the airport, bio cluster, and hub smart city, in which Korean companies, financial institutes and airport are all involved.Korea is Uzbekistan’s fifth-largest trading partner after China, Russia, Kazakhstan and Turkey. The top five trading partners together account for about 65 percent of Uzbekistan’s total trade.Forum participants also discussed ways to respond to global supply chain risks by joining projects to develop clusters for critical minerals such as tungsten and molybdenum.Ural Yusupov, deputy minister of mining and geology of Uzbekistan, called for the two countries to identify large-scale projects together, saying Korea’s technological capabilities and Uzbekistan’s abundant resources could complement each other.Korea Overseas Infrastructure and Urban Development Corporation, Uzbekistan's Investment Ministry and the Agency for Development of the Pharmaceutical Industry signed a cooperation agreement to advance the Tashkent Smart Bio Cluster project.A preparatory committee for the Korea-Uzbekistan Chamber of Commerce, or KoCHAM Uzbekistan, was also launched during the forum. KoCHAM refers to overseas Korean chambers of commerce formed by Korean companies operating in foreign markets to strengthen business networks and communication with local governments. Uzbekistan does not yet have such a chamber, but the organization is expected to be formally launched around the Korea-Central Asia summit in September. From left: Alisher Agzamkhodjaev, chair of the Senate Committee on Foreign Relations, Foreign Economic Relations, Foreign Investment and Tourism of Uzbekistan; Kim Bok-hwan, CEO of Korea Overseas Infrastructure and Urban Development Corp.; Jung Won-ju, chairman of Herald Media Group, Jungheung Group and Daewoo Engineering & Construction; Kim Young-man, director general for trade policy coordination at Korea’s Ministry of Trade, Industry and Resources; Rep. Seo Young-seok of the Democratic Party of Korea; Rep. Kim Kyo-heung of the Democratic Party of Korea; Rep. Yoon Jae-ok of the People Power Party; and Won Do-yeon, Korean ambassador to Uzbekistan, attend a VIP tea session at the Korea-Uzbekistan Business Forum in Tashkent, Uzbekistan,Tuesday. (Im Se-jun/The Korea Herald) Ahead of the forum, senior Uzbek officials, Korean lawmakers and business leaders held a VIP tea session, where they voiced support for strengthening bilateral economic ties.“There are many areas where the two countries can create mutual benefits, including high-speed rail, airports and textiles,” Rep. Kim Kyo-heung of the ruling Democratic Party of Korea, who chairs the Korea-Uzbekistan parliamentary friendship association, said.“K-culture can also serve as an important link. If the Silk Road of the past centered on trade, today it can also become a bridge connecting culture, the arts and AI.”Agzamkhodjaev recalled his visits to Korea in the 1990s, the early years of diplomatic relations between the two countries. He said Korea had served as an important example for Uzbekistan as the country opened up to the world after gaining independence in 1991 and began building democratic institutions.From Korea, participants include Rep. Kim of the Democratic Party; Rep. Yun Jae-ok of the main opposition People Power Party; Rep. Seo Young-seok of the Democratic Party; Won Do-yeon, South Korean ambassador to Uzbekistan; and Kim Young-man, director general for trade policy coordination at the Ministry of Trade, Industry and Resources.Senior Uzbek officials attending the forum include Agzamkhodjaev; Ilzat Kasimov, deputy minister of investment, industry and trade; Yusupov, deputy minister of mining and geology; Ilkhomjon Abdugafarov, deputy minister of transport; Sharof Radjabov, deputy director of the Directorate for the Construction of New Tashkent; Rukhullo Zikrillayev, deputy director of the Light Industry Development Agency; and Nodirbek Berdikobilov, head of IT Product Expansion Division at IT Park Uzbekistan.Tashkent is the fifth overseas venue for Herald Media Group’s business forum series, following Vietnam in 2022, Indonesia in 2023, India in 2024 and Bangkok in 2025. Participants attend Korea-Uzbekistan Business Forum 2026 in Tashkent, Uzbekistan, on Tuesday. (Im Se-jun/The Korea Herald)
