Uzbekistan and South Korea Sign Landmark Agreements to Bolster Strategic Partnership
Following recent negotiations between President Shavkat Mirziyoyev of Uzbekistan and President Yun Seok Yeol of South Korea, a significant package of bilateral agreements has been adopted, as reported by the Uzbek head of state's press service.
The two Presidents signed a Joint Statement on Deepening and Expanding a Special Strategic Partnership.
During the state visit, 17 key documents were signed, including:
- An intergovernmental agreement with the Fund for Economic Development and Cooperation.
- Agreements with the Export-Import Bank of Korea and Hyundai Rotem for the purchase and supply of high-speed electric trains.
- An agreement with the Export-Import Bank of Korea to provide equipment for science and ICT education in schools.
- An agreement to implement the innovative pharmaceutical cluster project “Pharma Park”.
- An agreement on cooperation to enhance the capacity of Uzbek civil servants.
- A cooperation program between the foreign ministries for 2025-2027.
- Protocols on cooperation within the World Trade Organization and in the field of culture.
- Agreements on cooperation in transport and the modernization of district heating systems in Uzbekistan.
- An agreement on partnership in critical minerals.
- An agreement to support the Uzbek-Korean joint committee on trade and economic cooperation.
- Memorandums on training qualified personnel and cooperation in agriculture.
- An agreement between Uzpromstroybank and the Export-Import Bank of Korea on an interbank master credit line, among others.
According to South Korea’s Yonhap News Agency, Hyundai Rotem will supply six high-speed trains, totaling 42 cars, to Uzbekistan Temir Yollari as part of a $195.7 million deal, including maintenance and repair services. This marks the first export of high-speed trains developed with Korean technology in two decades, following the introduction of a French-supported train in 2004.
In the realm of critical materials, the signed agreement will foster a comprehensive partnership from joint exploration to the utilization of mineral resources. Yonhap quotes the South Korean President as emphasizing the synergy in supply chain cooperation, leveraging Uzbekistan’s rich mineral resources and South Korea’s advanced technologies.
The agreements aim to develop a partnership encompassing the entire cycle of exploration, production, and processing of key minerals, such as lithium, providing Korean companies with priority in accessing economically viable minerals, according to the South Korean President’s Administration.
