Results of the Korea-Uzbekistan ICT Industry Conference
On September 11-12, the Korea-Uzbekistan ICT Industry Conference was convened in Tashkent, showcasing Uzbekistan’s vast business opportunities. Organized by the National IT Industry Promotion Agency of Korea (NIPA) under the coordination of the Korea Association for ICT Promotion, the event saw significant interest from Korean businesses, the conference attracted substantial interest from Korean businesses, underscoring its significance in strengthening bilateral relations in the IT services sector between the two nations.
The conference was inaugurated by Makhliyo Muksinova, Director of IT Services Export Development at IT Park, and Hur Sung Wook, President of NIPA.
The meeting between the leaders focused on fostering collaboration between the two organizations, supporting companies and the ICT sector in both countries, facilitating marketing activities, and providing mutual support.
Uzbekistan’s stable political environment, government support, favorable business climate, and a substantial pool of talented professionals provide companies with the opportunity to scale rapidly and effectively serve clients worldwide.
The conference featured the participation of five Korean companies:
- Shopl Company (developer of solutions for on-site employee scheduling and task management);
- Lilycover (manufacturer of customized cosmetics based on big data);
- SSL (developer and provider of AI and big data quality management services);
- Aidot Inc. (developer and supplier of AI-based solutions in medicine and healthcare);
- SC Solution Global Co., Ltd (developer of integrated water management solutions).
Uzbekistan presented the conference participants with advantageous business conditions, including exemptions from corporate and social taxes, VAT, reductions in dividend tax to 5%, and personal income tax to 7.5%. Additionally, the state support programs such as Zero Risk, Softlanding, and Regional HQ were highlighted, enabling companies to focus on core business priorities while minimizing risks when entering Uzbekistan’s burgeoning IT market.
A B2B session followed the main conference program, bringing together over 20 member companies of IT Park Uzbekistan with Korean enterprises. During these discussions, representatives from the Korean tech sector expressed strong interest in outsourcing their operations to Uzbek entities.
Korean companies noted Uzbekistan’s high level of education and robust talent pool, consisting of 21 million working-age individuals, with 5 million proficient in English and 102,000 fluent in Korean. This human capital positions Uzbekistan as an ideal destination for companies seeking to expand their digital technology ventures.
The conference concluded with the signing of a memorandum for mutual support and cooperation in the field of information technology between Uzbekistan and Korea. Such eventsplay a vital role in positioning Uzbekistan as a promising destination for outsourcing and IT business on the global stage, opening new avenues for job creation, attracting investments, and fostering the exchange of professional expertise, thereby contributing to the nation’s economic growth and improving the quality of life for its citizens.