IT Park Uzbekistan Continues to Strengthen Business Ties with the Korean Market

On June 14, 2024, IT Park Uzbekistan participated in the prominent event “Uzbekistan-Korea Business Partnership,” organized by the KOTRA Agency — the representative office of the non-profit organization dedicated to promoting trade development between Korea and other countries in Tashkent. The objective of the event was to fortify business relations between Uzbekistan and Korea in the fields of IT, the automotive industry, and emerging technologies (BioTech and renewable energy sources). 

During the conference, the delegation from IT Park presented Uzbekistan's growing export potential and human capital to the KOTRA Agency, along with 40 major Korean companies and government institutions.

In the meeting between representatives of KOTRA and IT Park, the parties reached an agreement to attract Korean IT companies to Uzbekistan and enhance awareness regarding the conditions established in the country for service enterprises. Furthermore, the Agency's delegation was extended an invitation to the forthcoming Global Business Services Forum to gain a deeper understanding of the country's IT landscape, including infrastructure, talent pool, and other aspects. 

A series of G2B (government-to-business) and B2B (business-to-business) meetings were conducted between representatives of the private sector and government entities of the two countries. IT Park representatives engaged in negotiations with representatives of Korean companies, including “MegaZone Cloud,” “GB Soft,” and “Firmmit.”

During these meetings, topics such as strengthening cooperation in IT development and outsourcing, as well as the advancement of joint technological projects and attraction of Korean investments into Uzbekistan's IT market, were deliberated. Representatives from the Korean companies underscored Uzbekistan's strategic significance in the Central Asian region and among CIS countries, attributable to its geographic location, rapidly growing economy, and abundance of highly qualified specialists.

Moreover, potential partners from Korea highlighted the effectiveness of the reforms implemented in the country to foster a conducive business environment and provide essential support to the private sector. Notably, the CEO of “Firmmit,” Sunkee Park, highly commended Uzbekistan’s investment attractiveness and expressed readiness to invest in the Uzbekistan market and launch joint projects.

The “Uzbekistan-Korea Business Partnership” conference served as a catalyst for the establishment of new partnerships between Uzbek and Korean companies, thereby accelerating the enhancement of business dialogue between the countries, particularly in the IT sector.