MOSCOW, September 18. /Dunyo IA/. President of Uzbekistan Shavkat Mirziyoyev agreed with President of the Republic of Korea Lee Jae Myung to establish an innovation and technology alliance during his visit to Seoul, reports Dunyo IA correspondent, citing with “Nezavisimaya Gazeta”, Russian daily socio-political newspaper.

Talks resulted in an investment portfolio worth $12 billion and a partnership program with the Korea Eximbank worth $8 billion. Tashkent is seeking to attract South Korean businesses to establish full-cycle production, ranging from semiconductors and electric vehicles to biopharmaceuticals.

Uzbekistan already draws on the experience of more than 700 operating joint ventures, including in the automotive and gas chemical industries. The next objective is to deepen cooperation through technology transfer, information technology, cybersecurity and personnel training. An important area will be the processing of critical minerals: Uzbekistan is interested in localizing production chains, while the Republic of Korea is interested in stable supplies of raw materials.

Success of these initiatives will depend on the development of infrastructure, including energy and transport, as well as human resources. Branches of South Korean universities and vocational training centers are already operating in the country and will be reoriented to meet the needs of new projects.

At the beginning of his visit, President Shavkat Mirziyoyev met with Uzbek citizens studying and working in the Republic of Korea, whose practical experience may also prove valuable for new projects.

Humanitarian aspect of cooperation also stands out, underscored by the history of the Korean diaspora and plans to declare 2027 the Year of Culture and Mutual Exchanges.

In the political sphere, the sides expressed their intention to strengthen military-technical cooperation and intensify dialogue between legislative bodies, government agencies, regional authorities and the business community. At the same time, the implementation of economic agreements is moving to the level of relevant ministries and enterprises, which will be tasked with agreeing on specific parameters, timelines and areas of responsibility for joint projects.