A delegation of the State Property Committee led by its acting chairperson Aziz Abduhakomov participated at the meeting.

The meeting was aimed at discussing measures on strengthening cooperation in finance and state assets management between Uzbekistan and Korea, export of Korean Stock Exchange (KRX) system, project on exchange of stock market specialists, project on introduction of electronic procurement system in Uzbekistan and use of Korean experience.

The Uzbek side presented information on the state property management and exchange market in Uzbekistan, State Property Committee’s structure and main tasks and functions, current state and perspectives of stock market of Uzbekistan.

It was said that Korean investors successfully participated in privatization process in Uzbekistan. In particular, Shindong Enercom Inc purchased 47% stake in Yolreftans for US$17.5 million and undertook obligation to invest US$6 million to enterprise. Shindong Enercom also purchased 100% stake in Surkhon Ajanta in Surkhandarya on zero redemption price with investment obligation worth US$3 million.

During the discussions, Koo Bon-jin said that Korea has great experience in use of modern IT solutions in securities market and currently holds 12th place on securities market development in the market. He said that the sides have potential for expanding and strengthening of cooperation in introduction of modern IT to securities market of Uzbekistan. The Korean delegation also expressed readiness to accept the Uzbek specialists to internship, which will allow them to familiarize with KRX solutions and electronic procurement system.

The Uzbek side that KRX also could became shareholder of the UzSE. The KRX could contribute to charter capital of the UzSE through installing information-financial platform and single electronic procurement system. This would also help to boost the securities market of Uzbekistan.

The sides agreed to assist each other in strengthening bilateral relations through information exchange and organization of seminars in Uzbekistan.

At the end of the meeting, the sides underlined necessity for further strengthening bilateral relations and studying opportunities on collaboration in state assets management and introduction of single electronic systems for securities market in Uzbekistan.