South Korea and Uzbekistan put money troubles aside to focus on developing ties



Analysis South Korea and Uzbekistan put money troubles aside to focus on developing ties Agreement on Tashkent’s outstanding payment of $1B will facilitate greater ROK investment in resource-rich country Celio FiorettiSeptember 14, 2023 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON South Korean Minister of Foreign Affairs Park Jin (right) with Minister of Foreign Affairs of Uzbekistan Bakhtiyor Saidov on Sept. 11, 2023 \| Image: ROK Ministry of Foreign Affairs South Korea’s finance ministry came to an agreement with Uzbekistan last Friday on settling an outstanding payment of some $1 billion related to a joint gas project. The announcement came after ROK finance minister Choo Kyung-ho visited the country last week to meet his counterpart, building on a decadeslong relationship between the two countries. While South Korea’s finance ministry did not release any details on what the agreement entails, the high-level meeting reflects both sides’ willingness to continue developing their partnership in various areas. The Uz-Kor Gas Chemical joint venture was launched in 2016and the billion-dollar debt belongs to © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01Samsung, SK Hynix rejection exposes South Korea’s chip-grid financing problem 02Trump’s Cheongung social media post tests Seoul’s refusal to arm to Ukraine 03Lee Jae Myung risks public trust as South Korea rewires its justice system 04South Korea turns to Central Asia as Iran war tests its energy resilience 05Houthi seizure of Mokha sharpens South Korea’s Hormuz deployment dilemma 06Japan’s stronger yen may cut Korea’s import bill while raising funding costs 07South Korea leans on Europe as Hormuz deployment choices grow narrower 08Hanwha’s Austal bid shows where South Korea’s MASGA plan may be heading

Analysis

South Korea and Uzbekistan put money troubles aside to focus on developing ties

Agreement on Tashkent’s outstanding payment of $1B will facilitate greater ROK investment in resource-rich country

Celio FiorettiSeptember 14, 2023

South Korea and Uzbekistan put money troubles aside to focus on developing ties

South Korean Minister of Foreign Affairs Park Jin (right) with Minister of Foreign Affairs of Uzbekistan Bakhtiyor Saidov on Sept. 11, 2023 | Image: ROK Ministry of Foreign Affairs

South Korea’s finance ministry came to an agreement with Uzbekistan last Friday on settling an outstanding payment of some $1 billion related to a joint gas project.

The announcement came after ROK finance minister Choo Kyung-ho visited the country last week to meet his counterpart, building on a decadeslong relationship between the two countries.

While South Korea’s finance ministry did not release any details on what the agreement entails, the high-level meeting reflects both sides’ willingness to continue developing their partnership in various areas.

The Uz-Kor Gas Chemical joint venture was launched in 2016and the billion-dollar debt belongs to

South Korea and Uzbekistan put money troubles aside to focus on developing ties

LATEST ANALYSIS

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Celio Fioretti