The figures, which indicate the strength of the partnership, also reveal an important trend in the trade balance.

Trade turnover and import priority

From January to July, the trade turnover between the two countries totaled $1.1 billion. An analysis of the trade structure revealed a significant imbalance: Uzbekistan’s exports amounted to $37.5 million, while imports from South Korea reached $1,037 million. This imbalance is driven by Uzbekistan’s high demand for high-tech equipment, machinery, and industrial products from the partner state. It is offset by investments from the Republic of Korea in Uzbekistan’s economy and its participation in the country’s industry.

From January to June, Uzbekistan attracted $216.4 million in investments and loans from this country. There are 730 enterprises in Uzbekistan with Korean capital. Thus, the confidence of South Korean entrepreneurs in Uzbekistan’s market remains stable.

Exchange within the sectors of tourism and education

Humanitarian and tourism ties are strengthening. Thanks to friendly relations between the countries, activity in tourism and education is high. Between January and July, 26,512 South Korean tourists visited Uzbekistan, while 20,073 Uzbekistan citizens traveled to Korea for tourism. In education, Uzbekistan’s youth are leading in academic mobility, with 1,394 Uzbekistan citizens studying in Korea and 591 Koreans studying in Uzbekistan.

The relationship between Uzbekistan and South Korea extends beyond trade, with active growth in investment, academic, and tourism collaborations.