Uzbek-Korean IT Business Alliance Established

On June 25, in the Republic of Korea, a signing ceremony took place to establish the Uzbek-Korean IT Business Alliance between IT Park Uzbekistan and the Korea Institute of International Industrial Cooperation (KIIIC), thereby strengthening the ties between the technological sectors of the two countries.

The signing ceremony was attended by a delegation from Uzbekistan, led by Minister of The Ministry of Digital Technologies of the Republic of Uzbekistan Sherzod Shermatov and IT Park Uzbekistan CEO Farkhod Ibragimov .?

Representing the Korean IT sector were six leading IT associations of Korea, including the Korea Institute of International Industrial Cooperation (KIIIC), the Korea Software Industry Association (KOSA), the Korea Service Industry Institute (KSI), the Korea Information Technology Service Industry Association (ITSA), the Korea Research and Development Industry Association (RNDIA), the Korea Educational Technology Industry Association (KETIA), the Seoul Digital Foundation (SDF), and the Gyeongbuk Technopark.

Minister Sherzod Shermatov opened the ceremony with a welcoming speech, highlighting the historical, political, and cultural closeness between the Uzbek and Korean peoples as a foundation for fruitful cooperation. He further noted that the opportunities created in Uzbekistan will enable Korean companies to find qualified IT specialists and significantly optimize their operational costs.

Additionally, IT Park Uzbekistan CEO Farhod Ibragimov discussed the favorable outsourcing conditions being developed in various regions, the comprehensive support programs and services such as the One Stop Shop for swift enterprise creation, and the potential of Uzbekistan's human capital.

Chairman of KIIIC, Jeong Ok-Rae, also spoke at the event, focusing on attracting contracts from Korean IT companies to Uzbekistan and showcasing the successful activities of existing Korean resident companies in the country. This aimed to cement bilateral cooperation and increase the presence of Korean technology companies in Uzbekistan.

According to the agreement signed at the ceremony, partner IT offices will be established in both Korea and Uzbekistan to boost the export of IT services from Uzbekistan to the Korean market, facilitate negotiations with companies, and promote Uzbekistan as a new outsourcing destination. The alliance will also provide practical support to Uzbek companies interested in advancing their projects and services in the Korean market.

During the event, Seoul Digital Foundation and Miso Information Technology became the first participating companies in the IT Business Alliance.

The ceremony also included presentations by representatives from IT Park for Korean IT companies interested in opening outsourcing offices in Uzbekistan. These presentations highlighted the current business climate in Uzbekistan, emphasizing the growth of the IT sector and favorable conditions for foreign investors. Special attention was given to the residency benefits of IT Park, offering tax incentives, access to modern infrastructure, and opportunities to collaborate with leading IT professionals. The presented conditions sparked significant interest among Korean partners, paving the way for further collaboration and the development of international business in Uzbekistan.

The establishment of the Uzbek-Korean IT Business Alliance aims to attract foreign investments, develop the IT sector, create new jobs, and enhance the skills of local specialists. Strengthening international ties and cooperation will provide access to advanced technologies and innovations, which will positively impact economic growth and the country's competitiveness in the global market. Moreover, the successful integration of Korean companies into the Uzbek business landscape will serve as an example for other foreign investors, strengthening the image of Uzbekistan as an appealing and prospective platform for conducting business.