Uzbekistan, South Korea forge new critical minerals links

BAKU, Azerbaijan, August 14. Uzbekistan and
South Korea discussed new investment and industrial projects aimed
at expanding technological cooperation, attracting advanced
technologies and developing high-value-added production.

This was reflected in the statement by the Uzbekistan’s
Technological Metals Complex (TMK).

An Uzbek-Korean business meeting was held in Seoul to explore
opportunities for taking bilateral investment and industrial
cooperation to a more practical level. A representative of
Uzbekistan’s Technological Metals Complex (TMK) also participated
in the discussions.

The meeting focused on expanding investment cooperation,
transferring advanced technologies, developing high-value-added
products and implementing new industrial projects.

South Korean investment in Uzbekistan has exceeded $8 billion,
while 725 enterprises with Korean capital currently operate in the
country. Bilateral trade has also reached nearly $2 billion,
according to the Uzbek side.

During the visit, a TMK delegation held separate talks with
representatives of South Korea’s Ministry of Trade, Industry and
Energy (MOTIE), the Korea Institute of Geoscience and Mineral
Resources (KIGAM), YG-1, Potent Metals Corp., POSCO International
and LS Group.

The discussions focused on opportunities for cooperation in the
deep processing of critical minerals, the introduction of advanced
metallurgical technologies, technology transfer and the development
of high-tech products.

“The parties discussed opportunities to expand technology
transfer, attract advanced metallurgical solutions and develop
high-value-added products,” the Uzbek side said.

The talks also resulted in a number of agreements aimed at
advancing cooperation in critical minerals and related industrial
technologies.

The engagement reflects Uzbekistan’s broader efforts to develop
its critical minerals sector by attracting foreign investment,
expanding domestic processing capacity and increasing the
production of technologically advanced goods.

For South Korean companies, Uzbekistan offers opportunities to
participate in projects involving mineral processing, metallurgy
and industrial manufacturing, while Uzbek enterprises can gain
access to advanced technologies and expertise.

The sides agreed to continue working on the discussed
initiatives and develop promising projects toward practical
implementation.

Source: https://www.trend.az/casia/uzbekistan/4215107.html

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