On August 11, 2016, there was meeting with the president of Yangwan company and federation of textile industry of the Republic of South Korea at the Hokimiyat of Tashkent region.
During this meeting, there was discussions about cooperation between two countries, new projects in textile industry and new investment plans in making textile products.
Representatives of Tashkent region claimed that connection and economic relationship between Uzbekistan and Southern Korea is developing, importance of economic relations between these two countries is increasing and this positive perspective of these connections are important for both countries
In addition, availability of cheap working force, convenient business conditions and developed infrastructure in Tashkent region is also vital for improving these connections.
To look at facts, there were only 3 joint ventures in 1991 in this region, however there are more than 540 joint ventures in the region. One of the important side of this development is that 39 of these companies belong to South Korean companies
On march of this year, Yangwan corporation delegation and “Uzbekyengilsanoat” JSC made agreement of making investment to Boka district of Tashkent region in producing textile products
The cost of this project is 3 mln USD dollars which plays important role in employment and economy of this region. Moreover, this project increases export potential of this district.