03 May 2023

Uzbekistan-South Korea: cooperation from leather and footwear to mining industries

At the initiative of the Uzcharmsanoat Association, a meeting was held aimed at developing multilateral economic cooperation between Uzbekistan and South Korea. The event was attended by the leadership of the association “Uzcharmsanoat”, representatives of the associations “Uzpromstroymaterialy” and “Uzeltekhsanoat”, entrepreneurs of the two countries and large investors. It was reported by “UzDaily.uz”.

At the beginning of the meeting, the parties made presentations on their organizations. Investors from South Korea were given information about the reforms carried out in the leather and footwear and fur industry of our country, the business environment and the conditions created for foreign investors.

After the official part of the meeting, during the B2B dialogues organized with the participation of representatives of various industries, San + One LLC, which is part of the Uzcharmsanoat Association, and Incense Korea and LG Luxury Beauty, an agreement was reached on the export of domestically produced shoes to South Korea. Product samples were presented to the heads of foreign companies. The first deliveries are scheduled for May this year.

Another project planned between the Uzbek San + One and LG Luxury Beauty includes cooperation in the perfumery and cosmetics direction. At the first stage, partners, in order to study the markets of Central Asian countries, plan to export perfumery and cosmetic products manufactured by LG Luxury Beauty from South Korea to Uzbekistan. Subsequently, the parties planned to establish a large manufacturing company in our country at the expense of South Korean investments.

During the “B2B” dialogue between Building Materials Testing Research Institute Co Ltd, Juil Co Ltd, Simon Korea and the Uzpromstroymaterialy association, negotiations were held on attracting South Korean companies in the field of building materials and the geological industry to our country.

Foreign partners propose at the first stage of cooperation to bring from South Korea to Uzbekistan special integrated technologies used in technical testing of building materials produced at local manufacturing enterprises, and then organize their production in our country.

Also, Simon Korea presented its project to process unused ore and other rocks in the mining areas located in our country to obtain gold and other precious metals and stones used in jewelry.

During the meeting of representatives of the association “Uzeltehsanoat” with the heads of Techone System Co., Ltd., Daeha Solutech Co., Ltd., Korea Electric Lighting, the parties exchanged product samples. Negotiations were also held on the export of cable products manufactured in Uzbekistan to South Korea. In the future, businessmen plan to establish the production of modern lamps (LED) in our country in cooperation with local enterprises.