President of the Republic of Uzbekistan Islam Karimov received Lee Kwan-Sup, First Vice Minister of Industry, Trade and Energy of the Republic of Korea, at the Oqsaroy on November 5.

President of the Republic of Uzbekistan Islam Karimov received Lee Kwan-Sup, First Vice Minister of Industry, Trade and Energy of the Republic of Korea, at the Oqsaroy on November 5.

The head of our state pointed out that South Korea is one of Uzbekistan’s key investment and technology partners. A number of strategic projects across diverse sectors of our country’s economy are in progress with enthusiastic participation of Korean businesses. A classic case of this type of cooperation is the recently completed construction of the Ustyurt Gas Chemical Complex at the Surgil Deposit worth around 4 billion dollars.



It was stressed at the meeting that the attendance of the Tashkent International Investment Forum by an eminent South Korean delegation demonstrates the further enhancement of strategic partnership relations between our two nations and the implementation of agreements reached during highest-level talks.

The conversation at the Oqsaroy has served to discuss issues pertinent to the engagement of Korean investors in the processes of privatization of public enterprises and assets in Uzbekistan and to the joint realization of new investment schemes in principal industrial and infrastructure sectors.

The two sides said they highly appreciate the 24 deals and memoranda signed within the framework of the International Investment Forum with South Korean partners on the acquisition of public assets in the hydrocarbon, chemical, electro-technical, machine-building and food industries, in the production of construction materials as well as in the infrastructure realm totaling more than 220 million dollars.

Lee Kwan-Sup thanked the President of the Republic of Uzbekistan for a warm reception and noted that the Republic of Korea attaches priority significance to the further development and consolidation of bilateral mutually advantageous cooperation, primarily in the trade-economic and investment spheres.