The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Family of 5 found dead in 3 separate locations

  • 3

    All-Korean showdowns set up on 1st day of medal race

  • 5

    Understanding Korean Modernization

  • 7

    Samsung, SK relieved by revised chip restrictions on China

  • 9

    S. Korea to stage massive military parade as tensions with North remain high

  • 11

    China's 'batwoman' scientist warns another coronavirus outbreak is 'highly likely'

  • 13

    US finalizes national security 'guardrails' for CHIPS funding

  • 15

    PM departs for China for Asian Games, meeting with Xi

  • 17

    Top diplomats of Korea, Iran discuss bilateral ties following frozen funds transfer

  • 19

    Hangzhou Asian Games open after COVID-enforced delay

  • 2

    Xi says he will seriously consider visit to South Korea: official

  • 4

    INTERVIEWYim Si-wan went extra mile to portray legendary athlete in 'Road to Boston'

  • 6

    Opposition party leader ends 24-day hunger strike for treatment

  • 8

    Bears of Joseon part 1: Fanciful tales and deadly claws

  • 10

    Sil-A overcomes stage fright, and them some

  • 12

    Exhibition for soldiers highlights North Korea's human rights abuses

  • 14

    Seoul, Beijing try to mend fences as Russia and N. Korea grow closer

  • 16

    Historic NASA asteroid mission set for perilous return

  • 18

    Allies vow stern measures against Russia-NK arms deal

  • 20

    League of Legends, other esports join Asian Games in competition for first time

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
Mon, September 25, 2023 | 22:55
Thoughts of the Times
Uniqueness of Korea-Uzbekistan relations (part 2)
Posted : 2019-04-19 17:14
Updated : 2019-04-19 17:14
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
By Mehmet Fatih Oztarsu

Uzbekistan has another significance with its attractive commercial potential. The country is located in a strategic geographical area which connects China and Europe. This became a motive for Korean enterprises to invest and create regional projects in the country.

During the 1990s, major Korean companies began their investments in the country and a joint cooperation committee was launched to seek new collaboration areas. Daewoo showed an essential performance in the automobile industry. On the other side, energy cooperation became a milestone in the relationship. The Korean National Energy Corporation and its Uzbek counterparts started energy exploration activities for both oil and natural gas especially in the Ustyurt area of Uzbekistan. Here, a complex worth $4 billion was built and opened in 2016.

Transportation is also an important part of the bilateral economic relations. Korean companies modernized Navoi Airport in the late 2000s which connects Uzbekistan and the world. Moreover, Korea played an effective role for the development of the Navoi Free Industrial Economic Zone. These steps made Korea the fourth largest trade partner of Uzbekistan. It is hard to imagine that two countries which are a long distance from each other established a very close cooperation and partnership. Korea and Uzbekistan have achieved this.

The former Presidents Lee Myung-bak and Park Geun-hye periods bolstered the relationship. The New Asia Initiative and Eurasia Initiative concepts of these presidents gave a private room to Uzbekistan. After having several high-level meetings, tens of agreements were signed. By 2013, trade volume had reached $2 billion along with total Korean investment worth $5 billion.

With the election of the new president, Shavkat Mirziyoyev, Uzbekistan announced that Korea was an important partner and bilateral relations should improve. His official visit to Korea in 2017 created a new atmosphere, and both sides showed their willingness to boost economic cooperation. At the same process, President Mirziyoyev declared that the upcoming year was the year of supporting active entrepreneurship, innovative ideas and technologies. Creating new advantages for investors, ensuring high economic modernization, more liberalization of the exchange market and educating skilled human resources became the main strategies of this declaration. The relationship with Korea was also mentioned as an important target.

Currently, the country hosts over 500 Korean companies and $7 billion worth of Korean investment. Samsung, LG, Lotte, Hyundai and other major companies are operating in the country for the development of new kinds of projects. This makes Uzbekistan a trade hub in the region which is the crossroads of Russia, China and U.S. investments.

Consequently, we can say that Korea-Uzbekistan relations provide a different meaning as a peaceful, win-win style of cooperation. Without any political claim, both sides concentrate on the beneficial aspects of bilateral ties. This also positively affects the regional partnerships of Korea when it comes to analyze relations with other countries. The Korean model of economic development and goodwill in the partnership has helped the Central Asian region become a new rising star in the world.


Mehmet Fatih Oztarsu (oztarsu@gmail.com) is a Turkish analyst in Seoul.


 
miguel
wooribank
Top 10 Stories
1Samsung, SK relieved by revised chip restrictions on China Samsung, SK relieved by revised chip restrictions on China
2S. Korea to stage massive military parade as tensions with North remain high S. Korea to stage massive military parade as tensions with North remain high
3Seoul, Beijing try to mend fences as Russia and N. Korea grow closer Seoul, Beijing try to mend fences as Russia and N. Korea grow closer
4Patients, doctors at loggerheads as operating room CCTV footage made mandatory Patients, doctors at loggerheads as operating room CCTV footage made mandatory
5Korea, Saudi Arabia celebrate 93rd Saudi National Day, vow stronger cooperation Korea, Saudi Arabia celebrate 93rd Saudi National Day, vow stronger cooperation
6Mirae Asset Global Investments' AUM reaches $219 bil. Mirae Asset Global Investments' AUM reaches $219 bil.
7Lee Jae-myung's possible arrest looms over main opposition party Lee Jae-myung's possible arrest looms over main opposition party
8Bears of Joseon part 2: Behind bars Bears of Joseon part 2: Behind bars
9Low growth becomes new normal for Korean economy Low growth becomes new normal for Korean economy
10LG Chem to build LFP cathode plant with Huayou in Morocco LG Chem to build LFP cathode plant with Huayou in Morocco
Top 5 Entertainment News
1[INTERVIEW] Yim Si-wan went extra mile to portray legendary athlete in 'Road to Boston' INTERVIEWYim Si-wan went extra mile to portray legendary athlete in 'Road to Boston'
2TEMPEST gears up to showcase fiery passion TEMPEST gears up to showcase fiery passion
3BTS' Jungkook to drop 2nd solo single '3D' BTS' Jungkook to drop 2nd solo single '3D'
4K-pop group Kingdom recalls album cover resembling QuranK-pop group Kingdom recalls album cover resembling Quran
5Cho Seong-jin celebrates 140-year ties between Korea, UK Cho Seong-jin celebrates 140-year ties between Korea, UK
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group