BAKU, Azerbaijan, September 15. Uzbekistan and the Korea Export-Import Bank (Korea Eximbank) have backed a new $8 billion partnership program covering projects in critical minerals, healthcare, transportation, education and digital technologies.
This was reflected in the statement by the press service of the Uzbek president, following a meeting between Uzbek President Shavkat Mirziyoyev and Korea Eximbank Chairman Hwang Ki-yeon as part of the Uzbek president’s state visit to South Korea.
The meeting was also attended by Kwon Yi-gon, president of the Korea Institute of Geoscience and Mineral Resources (KIGAM), and Bum Soon Kim, deputy director of the Korea Institute of Materials Science (KIMS).
The sides highlighted their longstanding cooperation through Korea Eximbank and its funds in healthcare, pharmaceuticals, critical materials, education and transport.
Mirziyoyev supported the signing of the new $8 billion partnership program and called for accelerating projects involving the supply of high-speed trains, establishment of a Bio Center, critical-mineral processing and digital technology development.
“Expanding cooperation in critical minerals, advanced materials and transport infrastructure will create new opportunities for technological and industrial development in Uzbekistan,” the Uzbek presidential press service said.
Particular attention was given to establishing a Women’s Entrepreneurship Center in the Aral Sea region and attracting Korean financial institutions and companies to the planned Tashkent-Samarkand railway project.
The sides also welcomed the launch of a joint fund to finance critical-mineral projects. They proposed preparing a project to establish a Center for Semiconductor and New Materials Design and Testing, aimed at strengthening cooperation in advanced materials and semiconductor technologies.
The meeting emphasized the importance of active participation by KIGAM and the Korea Institute of Rare Metals in implementing these initiatives.
The new partnership program adds to a broader expansion of Uzbekistan-South Korea economic cooperation, with both sides seeking to move toward higher-value industries, strengthen critical-mineral supply chains and introduce advanced technologies into Uzbekistan’s economy.
