The visit was aimed at developing trade-economic cooperation among business circles of two states, establishing direct mutual beneficial contacts with the Uzbek businesses, discussing possible perspective bilateral relations.
Within the visit, negotiations between business circles of South Korea and Uzbekistan were held in Tashkent on 9 October 2012. Within the meeting, the memorandum between Chamber of Commerce and Industry of Uzbekistan and Ulsan Techno Park of Ulju County was signed.
In order to develop trade-economic and investment cooperation, an Uzbek-South Korean business forum was organized by the Chamber of Commerce and Industry of Uzbekistan, which was dedicated to discussion of further cooperation. Within the event, the presentations of investment potential of Uzbekistan, Navoi free industrial-economic zone and Angren special industrial zone were held.
During the business meeting, the sides also discussed issues of mutual cooperation in strengthening interaction of business circles of two states.
Bilateral trade turnover of Uzbekistan and South Korea made up US$1.628 billion in 2011. The exports of Uzbekistan made up US$142.4 million and imports – US$1.486 billion.
Currently, there are 359 enterprises with South Korean capital in Uzbekistan, of which 62 are companies with 100% Korean investments. They operate in such areas as trade, light industry, mining, chemistry, food industry, machinery and metal processing, healthcare, tourism, services, etc.
Some 84 South Korean companies accredited their offices at the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan.