Tashkent, Uzbekistan (UzDaily.com) —  On 28 October, a Uzbek-Korean roundtable was held in Tashkent, focused on strengthening economic ties between Uzbekistan and South Korea.

The event took place during the visit of a South Korean delegation led by Kim Byung Kwan, Chairman of the Korean Importers Association (KOIMA), and gathered over 100 representatives from the business communities of both countries. The main goal of the forum was to create new opportunities for expanding trade cooperation.

Founded in 1970, KOIMA is the largest association of importers in South Korea and plays a key role in enhancing Korea’s international trade relations. The association actively promotes the diversification of imports and the search for new suppliers worldwide.

Among the speakers were Shohrukh Ghulamov, Deputy Minister of Investments, Industry, and Trade of Uzbekistan; Kim Byung Kwan, Chairman of KOIMA; and Won Do Young, Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Uzbekistan. They emphasized the importance of strengthening bilateral relations and confirmed their commitment to developing multifaceted cooperation.

It was noted that over the past seven years, trade turnover between the two countries has more than doubled, increasing from US$1.4 billion in 2017 to US$2.34 billion in 2023. The number of joint ventures with Korean capital in Uzbekistan rose from 359 in 2019 to 670 in 2024, while direct investments from Korea in Uzbekistan exceeded US$7.3 billion. Currently, there are 60 investment projects being implemented in collaboration with Korean companies, amounting to a total of US$8.8 billion.

During the main part of the discussion, prospects for cooperation in the chemical, food, and textile industries were explored. For the first time, business representatives from both countries jointly examined the results of market research, identifying export opportunities for Uzbek textile and leather products (US$284 million), chemical goods (US$200 million), non-ferrous metals (US$200 million), food products (US$153 million), and other goods.

The event concluded with the signing of bilateral agreements and B2B negotiations, where specific projects and potential investment directions were discussed.

This roundtable marked a significant step in the development of economic relations between Uzbekistan and South Korea, opening up new prospects for mutually beneficial cooperation.