Uzbek-Korean Tech Collaboration: IT Park Uzbekistan Facilitates Groundbreaking B2B Meetings in Korea

In a significant stride towards fostering international tech collaboration, IT Park Uzbekistan recently concluded a series of B2B meetings with prominent Korean companies, following a comprehensive presentation in Korea. The gathering, marked by individual consultations and exchanges, delved into various aspects of Uzbekistan's burgeoning IT sector.

Representatives from IT Park fielded numerous inquiries about Uzbekistan-based companies specializing in IT outsourcing. Discussions extended to the mechanisms of employee remuneration in foreign currency and the taxation of imported services, highlighting a period of tax incentives currently in place. These dialogues underscored Uzbekistan's evolving IT outsourcing landscape and its regulatory environment.

Meanwhile, IT Bilim addressed topics crucial for fostering talent exchanges between the two nations. Questions from Korean delegates focused on the recruitment processes in Uzbekistan, including pre-employment training arrangements and the statistical demographic data relevant to workforce planning. This reflects a keen interest in tapping into Uzbekistan's rich human resource potential.

Consultants provided insights into the operational logistics within Uzbekistan, ranging from the steps and costs involved in establishing a company to the intricacies of the country's economic state and banking system. Further discussions included the procedures for currency repatriation and the payment of wages in foreign currency, which are vital for international firms considering operations in Uzbekistan.

In addition to these individual consultations, six IT Park residents had the opportunity to showcase their services and products to the Korean market. These included DUK "SOLIQ SERVISE",  “GIDROMETEOROLOGIYADA AXBOROT TEXNOLOGIYALARINI RIVOJLANTIRISH MARKAZI”, “DESTEC GROUP”, “TECHNOUNIT-GROUP”, “ARSENAL D” and “NNT EXPRESS INC”. Each entity presented unique offerings, aiming to carve out potential collaborations and service avenues in the Korean tech ecosystem. Each entity presented unique offerings, aiming to carve out potential collaborations and service avenues in the Korean tech ecosystem.

Notably, the “GIDROMETEOROLOGIYADA AXBOROT TEXNOLOGIYALARINI RIVOJLANTIRISH MARKAZI” conducted successful negotiations with Korean companies for further collaboration on processing large-scale meteorological data and implementing artificial intelligence in the field of hydrometeorology.

“NNT Express Inc”, specializing in corporate IT services, reached agreements to provide outsourcing services and establish partnerships with Korean enterprises such as Churcha Global, Coconut Silo, and Eurastech. Discussions also explored the potential for collaboration in the field of artificial intelligence with Coconut Silo.

BDWide secured a partnership with “Technounit-Group” to provide IT outsourcing services, assisting in finding orders available in Korea.

Furthermore, Korean partners of IT Park like LG, Softbrain, Mk soft, i2wax, M12, and Bitprom METAWEB were invited to the event. They informed the Korean companies about the advantages of conducting IT business in Uzbekistan.

Negotiations were also held between the resident of IT Park, “DESTEC GROUP”, and Korean companies such as FinTech Center Korea, FinTech Industry Association, and DXT&Inc to establish cooperation and attract Korean companies to the IT Park residency.

The meetings also broached broader employment and training topics, such as the availability of senior personnel, opportunities for youth training and employment, collaborations with major industry players on startup projects, and the talent pool for potential employment.

These B2B meetings showcased the capabilities and ambitions of Uzbekistan's IT sector, paving the way for future cooperation and accelerating the growth and international reach of both Uzbek and Korean tech enterprises. As Uzbekistan continues to emerge as a significant player in the global IT market, such partnerships play a crucial role in shaping a mutually beneficial technological ecosystem.