Korean and Uzbek officials pose during a memorandum of understanding signing ceremony on a strategic partnership in Samarkand, Sunday. From left are Uzbekistan's Deputy Minister of Investment, Industry and Trade Gulamov Shokhrukh Khasanovich, Uzbekistan’s Deputy Prime Minister Khodjaev Jamshid Abdukhakimovich, Korea’s Finance Minister Koo Yun-cheol, Uzbekistan’s Finance Minister Kuchkarov Djamshid Anvarovich and Korea Eximbank CEO Hwang Ki-yeon. Courtesy of Korea Eximbank
The Export-Import Bank of Korea (Korea Eximbank) signed a memorandum of understanding (MOU) with Uzbekistan's investment ministry to establish a strategic partnership, the state-run lender said Tuesday.
The signing ceremony took place Sunday in Samarkand, on the sidelines of the annual meeting of the Asian Development Bank.
Under the agreement, the two sides will expand cooperation in industrial development and strengthen information sharing to help stabilize supply chains. The partnership will also cover investments in energy transition and green infrastructure, as well as collaboration in artificial intelligence (AI) technologies.
The MOU follows an agreement reached last December between the two countries' deputy prime ministers for economic affairs.
The signing ceremony was attended by Finance Minister Koo Yun-cheol and Eximbank CEO Hwang Ki-yeon. Uzbek officials in attendance included Deputy Prime Minister Khodjaev Jamshid Abdukhakimovich, Finance Minister Kuchkarov Djamshid Anvarovich and Deputy Minister of Investment, Industry and Trade Gulamov Shokhrukh Khasanovich.
Eximbank said the agreement is meaningful as it lays the groundwork for directly linking policy financing tools to bilateral cooperation projects, enabling more tangible outcomes.
Both sides agreed to maintain regular communication to identify and advance joint projects.
"The MOU is a crucial step in advancing bilateral agreements into concrete actions. Eximbank will actively support Korean companies in making tangible progress in Uzbekistan's infrastructure, green energy and advanced technology sectors," Hwang said.
Separately, Hwang is scheduled to attend a relocation ceremony for the bank's Tashkent office on Wednesday.
Source: Korea Times News
