Uzbek Ambassador to South Korea Alisher Abdusalomov (right) poses with Herald Media Group CEO Choi Jin-young, gifting him a souvenir after Abdusalomov's speech at the Global Business Forum held in Seoul on Wednesday. (The Korea Herald)

Relations between South Korea and Uzbekistan have climbed to new heights, with the two sides continuing to set new milestones as bilateral ties mature, Uzbek Ambassador to South Korea Alisher Abdusalomov said at the Global Business Forum in Seoul on Wednesday.

In the forum’s sixth weekly session held Wednesday, the delegate explained the strong partnership that Seoul and Tashkent have fostered since Uzbekistan declared independence in 1991 and the two countries' establishment of diplomatic relations the following year.

“Since gaining independence, Uzbekistan has prioritized establishing strong diplomatic relations with leading nations, including the Republic of Korea. Over time, this relationship has flourished into a special strategic partnership, built on mutual respect and shared goals,” Abdusalomov said, referring to the upgrade in the bilateral relationship during Uzbek President Shavkat Mirziyoyev’s state visit in June.

“The 19 summit meetings held between our heads of state, have resulted in meaningful agreements across political, economic and technological fields,” he added.

According to Abdusalomov, over $7.5 billion worth of investments are being made by nearly 800 joint ventures by the two countries, and bilateral trade volume hit $2.5 billion last year.

The delegate also said that the two countries' selection of a number of fields in which to strengthen cooperation was “setting a new milestone in the countries’ relations.”

President Yoon Suk Yeol and his Mirziyoyev agreed to prioritize cooperation in mineral resources, semiconductors, chemical industry, engineering, smart agriculture, infrastructure and urban development, and modern and safe energy. The ambassador added that Korean businesses and state-run funds have already played important roles in those fields.

“This agenda is supported by an expanded partnership with Export-Import Bank of Korea and the Economic Development Cooperation Fund, which now totals over $3 billion in joint projects, with an additional $2 billion planned for various infrastructure development projects, including procurement of high-speed trains.”

Ambassador Alisher Abdusalomov delivers his welcoming address at the Global Business Forum held in Seoul on Wednesday. (The Korea Herald)

The ambassador went on to discuss the cultural link between the two countries that stems from the Korean diaspora in Uzbekistan.

Uzbekistan is home to over a hundred thousand members of the Korean diaspora, and the two countries are working together to open a museum and library at the House of Korean Culture and Art in Tashkent in 2027, to mark the 90th anniversary of the diasporas’ settlement in Uzbekistan.

“Our presidents agreed to designate the coming year of 2025 as The Year of Mutual Exchanges between Uzbekistan and Korea, to further strengthen people-to-people ties through a variety of cultural events,” he added.

The speech was concluded with his welcoming leaders who attended the GBF session to his mission, for any kind of cooperation.

“Together, let us continue to shape a brighter future for Uzbekistan and Korea. The doors of our Embassy are always open for you! I am ready to greet each of you in our Embassy to discuss the issues of cooperation."

Prof. Park Hee-jun speaks at the Global Business Forum in Seoul on Wednesday. (The Korea Herald)

After the ambassador’s address, speeches by experts in diverse fields followed.

Professor Park Hee-jun of Yonsei University discussed how business leaders deal with technological advances to create opportunities for their businesses, under the theme “Age of Hyper-Uncertainty: Global Business Opportunities and Trends.”

Emphasizing the importance of innovation, Park said the advancement of new technologies, such as blockchain, metaverse and quantum computing, offers effective methods for innovation.

“Still, the leaders have to figure out the precise desires of their customers to make the technology breakthrough to solve thorny business issues,” Park said, citing some successful and unsuccessful cases of multinational companies.

Comedian Kim Byung-man answers questions from his colleagues and participants of the Global Business Forum in Seoul on Wednesday. (The Korea Herald)

Comedian Kim Byung-man, shared his stories of realizations he came to after reaching the pinnacle of his career.

Kim has been recognized as a top-tier comedian with the reception of two grand prizes at local broadcaster SBS’s annual Entertainment Awards, one of the most prestigious awards given to Korean comedians.

The GBF is an association of local leaders operated by The Korea Herald, with members including diplomats, business and cultural leaders, and celebrities. Currently in its 6th edition, sessions are held every week with speeches from high-profile figures in and out of Korea.