President Shavkat Mirziyoyev held a series of business meetings with senior executives of Lotte Group, the Export-Import Bank of Korea, Hyundai Motor Group, Kia Motors and Hyundai Rotem as part of the business program surrounding his visit to South Korea, the presidential press service reported.
Meeting with Lotte Group Chairman Shin Dong-bin, the president noted that the company ranks among Korea's largest investors in the country, pointing to years of productive cooperation — with the successful operation of the Ustyurt Gas Chemical Complex singled out as a key achievement.
The two sides discussed development projects built on advanced Korean technology, as well as prospects for expanding cooperation in copper foil production. The president also voiced support for the company's plans to manage tourism centers and improve service quality in the hospitality sector. The talks concluded with an agreement to establish a joint working group to monitor the implementation of bilateral projects.
A separate meeting with Export-Import Bank of Korea Chairman Hwang Ki-yeon was also attended by Kwon Yi-gyun, president of the Korea Institute of Geoscience and Mineral Resources, and Bum-sun Kim, deputy director of the Korea Institute of Materials Science. Participants welcomed years of effective cooperation between the bank, its affiliated funds, and the country in healthcare, pharmaceuticals, critical materials, education and transport. The president backed the signing of a new $8 billion cooperation program and reviewed plans to accelerate projects covering high-speed train deliveries, the establishment of a biocenter, critical minerals processing, and digital technology development.
Particular attention was given to opening a women's entrepreneurship center in the Aral Sea region and attracting Korean financial institutions and companies to help finance a new Tashkent-Samarkand railway line. Both sides welcomed the launch of a joint fund to finance projects in strategically important minerals, while officials proposed exploring the creation of a center for developing and testing semiconductors and new materials — with active involvement from the Korea Institute of Geoscience and Mineral Resources and the Korea Institute of Rare Metals flagged as essential to the effort.
The president also met with Hyundai Motor Group Strategy President Kim Sung, Kia Motors Senior Executive Vice President Cho Sang-eun, and Hyundai Rotem Board Chairman Lee Yong-bae. He praised the group's contribution to developing the automotive and transport sectors, with discussions covering plans to expand production at the Jizzakh auto cluster and boost the localization of auto components.
Officials welcomed the launch of a full Kia production chain and rising export volumes, with particular focus on introducing new vehicle models and commissioning a stamping shop, alongside prospects for launching electric and hybrid vehicle assembly. High-speed Hyundai Rotem trains now running the Tashkent-Khiva route have cut travel time in half, and the company discussed plans to deliver additional trains. Officials also emphasized the importance of establishing a Hyundai Rotem service center, localizing component production, and exploring magnet manufacturing for electric motors.
