Won Do Yeon, South Korea’s ambassador to Uzbekistan, delivers welcoming remarks at the Uzbekistan-Korea Business Forum in Tashkent, Uzbekistan, Tuesday. (Lim Se-jun/The Korea Herald) South Korea and Uzbekistan are entering a period of “unprecedented opportunity” in economic cooperation, Seoul’s ambassador to Tashkent said Tuesday, citing sharp growth in investment and trade between the two countries.In his congratulatory remarks at the Uzbekistan-Korea Business Forum, Ambassador Won Do-yeon said there were concrete signs that economic ties where growing, backed by high-level exchanges and Uzbekistan’s improving investment environment.“We are at a moment when an unprecedented and groundbreaking window of opportunity is opening in the history of cooperation between our two countries,” Won said.According to Won, South Korea’s foreign direct investment in Uzbekistan, based on filings with the Export-Import Bank of Korea, tripled from 2024 to 2025. Bilateral trade also increased 22.8 percent year-on-year as of April.Won attributed the momentum to Uzbekistan’s strong economic performance, including its 7.7 percent growth last year and its stable sovereign credit rating.The ambassador also highlighted the two countries’ special strategic partnership, last year’s summit and active high-level exchanges, including meetings involving economic officials, as key factors supporting the growth in bilateral business cooperation.He noted the two sides were building institutional foundations for deeper cooperation, including in critical minerals and intellectual property.Major Korean companies in sectors including construction, finance and advanced technologies have been accelerating their entry into the Uzbek market, he added.The ambassador described Uzbekistan as a “blue ocean” of unlimited potential, citing a recent meeting he had with a South Korean lawmaker who used the phrase to characterize the country’s growth prospects.Won said the forum would serve as an important opportunity to draw a future blueprint for bilateral economic cooperation ahead of the first Korea-Central Asia Summit, scheduled to be held in South Korea in September.He called on business leaders to make the most of upcoming opportunities while building partnerships based on mutual trust, thorough preparation and respect for international law.“The Korean Embassy will work closely with our companies and provide active support for their success,” Won said. “I hope today’s forum will become a milestone in economic cooperation between our two countries.”