President Lee Jae Myung Holds Summit with Uzbekistan...High-Speed Rail and Defense Sales, Critical Minerals Cooperation

[Financial News] President Lee Jae Myung held a summit on the 14th with Uzbek President Shavkat Mirziyoyev, who was visiting South Korea on a state visit, and moved to expand cooperation in strategic industries, including high-speed rail, defense, critical minerals and artificial intelligence (AI). The meeting was the first event in a series of summit diplomacy ahead of the first Korea-Central Asia Summit on the 16th, with a focus on expanding opportunities for Korean companies to enter the Uzbek market and win contracts.
At the expanded summit held at Cheong Wa Dae, President Lee Jae Myung said, "As Uzbekistan is our only special strategic partner in Central Asia, it is an invaluable friend and key partner to the Republic of Korea. I believe we can broaden the horizons of mutually beneficial cooperation—from transportation, infrastructure, health care and climate crisis response to critical mineral supply chains, artificial intelligence, digital technologies and the defense industry—and jointly create momentum for future growth."
The two countries signed a total of 13 agreements, memorandums of understanding (MOUs) and contracts in areas including high-speed rail, defense, manufacturing AI, critical minerals and intellectual property. They also agreed to begin an Economic Development Cooperation Fund (EDCF) feasibility study for Uzbekistan’s introduction of eight high-speed rail trainsets and the establishment of the National Genomics and Biobank, known as the “Biome Center.” The two leaders further agreed to support additional participation by Korean companies in infrastructure projects, building on the development and operation of the new Tashkent airport and Urgench Airport. Hyundai Rotem’s domestically produced high-speed trains have already been exported to Uzbekistan and begun commercial operations there, raising expectations that the latest cooperation could lead to additional orders.
In the defense sector, Korea Aerospace Industries (KAI) and UzTrade signed a contract to strengthen cooperation.
Cooperation in critical minerals and AI also took concrete shape. The Export-Import Bank of Korea (KEXIM) and the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan agreed to identify promising projects and explore financing support, focusing on critical minerals; AI and data centers; smart cities; industrial complexes dedicated to Korean companies; and pharmaceuticals and biotechnology. Uzbekistan’s government also officially opened a Korea Desk, a dedicated organization for Korean companies, and launched the Korea-Uzbekistan Business Council.
Before the summit, President Lee Jae Myung also met with Masato Kanda, president of the Asian Development Bank (ADB), to discuss ways to expand cooperation in Central Asia’s critical mineral supply chains and energy infrastructure. The aim was to develop Central Asian projects by combining South Korea’s technological capabilities with ADB’s project experience and financial instruments.
President Mirziyoyev said, "Korea is one of Uzbekistan’s major trading partners," adding, "More than 700 Korean companies have entered Uzbekistan through joint ventures." He continued, "Uzbekistan will continue to unwaveringly support the South Korean government’s efforts to consolidate peace and security on the Korean Peninsula."
Cheong Wa Dae made special efforts to prepare the protocol for the state visit. The national flags of South Korea and Uzbekistan were displayed on the media facade of Lotte World Tower, while welcome messages in both countries’ languages were shown at Government Complex Seoul. At the official welcoming ceremony, about 70 members of the military band and traditional honor guard escorted President Mirziyoyev and his wife in their vehicle, while approximately 280 personnel, including honor guards from the three branches of the military, stood in formation. A welcoming delegation of about 30 children, including Uzbek children, also greeted the presidential couple while waving the flags of both countries.
The state dinner featured halal-certified Korean beef neobiani, lamb chops and dakgomtang, while the side dishes included “markovcha,” an Uzbek-style carrot kimchi. President Mirziyoyev received red ginseng health products wishing him health and well-being, while his wife, Mirziyoyeva, was presented with a ceramic set made using white porcelain and silver.
After meeting with the leaders of Turkmenistan and Kazakhstan on the 15th and Tajikistan and Kyrgyzstan on the 16th, President Lee Jae Myung plans to hold the first Korea-Central Asia Summit with the leaders of the five Central Asian countries and adopt the “Seoul Declaration,” outlining the direction of mid- and long-term cooperation.
[email protected] Seong Seok-woo, Choi Jong-geun Reporter