BAKU, Azerbaijan, September 15. Uzbekistan and South Korea’s Lotte Group have agreed to establish a working group to monitor the implementation of bilateral projects, as the sides seek to expand cooperation in development, tourism and copper foil production.
This was reflected in the statement by the press service of the Uzbek president, following a meeting between Uzbek President Shavkat Mirziyoyev and Lotte Group Chairman Shin Dong-bin during the business program of his visit to South Korea.
Mirziyoyev highlighted Lotte Group’s longstanding cooperation with Uzbekistan and its role as one of the largest South Korean investors in the country. The Uzbek leader also noted the successful operation of the Ustyurt Gas Chemical Complex.
The sides discussed plans to implement development projects in Uzbekistan using advanced South Korean technologies. They also explored prospects for expanding cooperation in the production of copper foil, a material widely used in batteries and other high-tech applications.
The meeting also covered Lotte Group’s plans to participate in Uzbekistan’s tourism sector. Mirziyoyev supported the company’s plans to manage tourism centers in the country and contribute to improving the quality of hotel services.
“Uzbekistan places particular importance on expanding investment cooperation with leading South Korean companies and introducing advanced technologies across priority sectors,” the presidential press service said.
The discussions reflect efforts to broaden Lotte Group’s activities in Uzbekistan beyond its existing industrial investments into construction, tourism and technology-intensive manufacturing.
The Ustyurt Gas Chemical Complex remains an important element of the company’s cooperation with Uzbekistan, while the proposed new projects could create additional opportunities for technology transfer and investment.
The sides also agreed to establish a joint working group to monitor the implementation of bilateral projects. The group is expected to help coordinate ongoing initiatives and address issues arising during their implementation.
The agreement comes amid broader efforts by Uzbekistan and South Korea to expand investment and industrial cooperation and develop new areas of partnership during Mirziyoyev’s state visit to South Korea.
