SEOUL, KOREA - Korean companies may be given an opportunity to participate in gas field development projects in Uzbekistan estimated to be worth more than US$4 billion. In a state visit to the Central Asian nation, President Park Geun-hye met on June 17 her Uzbek counterpart Islam Karimov in Tashkent and discussed ways for further cooperation between the two countries.

 

In this meeting, the Korean President made requests to the Uzbek President that Korean companies be allowed to take part in the Kandym gas field project and solar power generation projects undertaken by his government. Hyundai Engineering is currently involved in the Kandym project.

 

A Blue House spokesperson aid, "A number of Korean companies has signed agreements with Uzbekneftegaz [Uzbek national holding company], but the government is postponing approval. To the request of President Park, President Karimov said his government would review the proposal proactively."

 

Ms. Park also asked Mr. Karimov that the projects worth $8 billion including the Surgil gas field development project that are underway be given proper government support so that they can be completed as scheduled. The two summits also signed a protocol to provide a $250-million international development assistance fund to Uzbekistan by 2017.