Uzbekistan and South Korea Target Doubling Trade to $4 Billion
Economy
Uzbekistan and South Korea plan to double bilateral trade in the coming years, from nearly $2 billion to $4 billion annually. To support this target, the two sides plan to establish a joint working group focused on expanding trade and removing existing barriers.
Uzbekistan’s Deputy Prime Minister Jamshid Khodjaev announced the initiative following his working visit to Seoul, where he met with Koo Yun-cheol, Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea.
According to Khodjaev, key priorities include strengthening direct business ties between companies from the two countries and making greater use of KOTRA opportunities to promote Uzbek products in the South Korean market.
The two countries also see room for expanding investment cooperation. South Korean investment in Uzbekistan has exceeded $8 billion, while 725 companies with Korean capital are currently operating in the country.
Bilateral economic cooperation extends beyond trade to investment, infrastructure, science and technology. In May 2026, Koo Yun-cheol and Jamshid Khodjaev discussed further expansion of economic cooperation, including infrastructure projects, supply chains and emerging industries.
In December 2025, the two sides had also agreed to coordinate efforts to address difficulties faced by companies from both countries and support their uninterrupted business activities.
According to Khodjaev, key priorities include strengthening direct business ties between companies from the two countries and making greater use of KOTRA opportunities to promote Uzbek products in the South Korean market.
The two countries also see room for expanding investment cooperation. South Korean investment in Uzbekistan has exceeded $8 billion, while 725 companies with Korean capital are currently operating in the country.
Bilateral economic cooperation extends beyond trade to investment, infrastructure, science and technology. In May 2026, Koo Yun-cheol and Jamshid Khodjaev discussed further expansion of economic cooperation, including infrastructure projects, supply chains and emerging industries.
In December 2025, the two sides had also agreed to coordinate efforts to address difficulties faced by companies from both countries and support their uninterrupted business activities.
Powered by Froala Editor