Finance ministry discusses AI, critical-mineral cooperation with Uzbekistan

South Korea's finance ministry said it had proposed a deeper economic partnership with Uzbekistan around critical minerals and artificial intelligence, as the countries prepare for the first Korea-Central Asia summit to be held in Korea in September. Deputy Prime Minister and Finance Minister Koo Yun-cheol met Uzbek Deputy Prime Minister Jamshid Khodjaev in Seoul. Koo called Uzbekistan an important strategic economic partner amid global uncertainty, AI innovation and supply-chain restructuring.

The officials were meeting for a third time following talks in December and May. They said economic cooperation had progressed through expanding trade and improved investment conditions. Bilateral trade reached $971 million in the first half of 2026, up 22.4 percent from a year earlier.

"We should turn cooperation across the critical-mineral supply chain -- from exploration and processing through use -- into concrete action, and pursue the K-AI package to produce visible results people in both countries can feel," Koo said. The proposed package would pair EDCF-backed infrastructure in Uzbekistan with sector-specific AI solutions, data centres and renewable-energy facilities. Koo also asked Uzbekistan to improve investment conditions and provide incentives for South Korean companies.

Khodjaev said cooperation should broaden in AI data centres and critical minerals. "We will expand communication with the Korean government and Korean companies, closely check the progress of every cooperation project involving Korean firms, and provide careful support for smooth investment and operations," Khodjaev said. The officials agreed to use a hotline between their deputy prime ministers to speed progress on major projects before the September summit and deepen cooperation in AI, supply chains, renewable energy, bio and advanced infrastructure.

Before the meeting, Khodjaev chaired a Korea-Uzbekistan business roundtable with eight Uzbek vice ministers, South Korean officials and representatives of more than 30 companies from the two countries. Uzbekistan presented investment opportunities and key development projects, while participants discussed incentives, regulatory reform and support measures. Finance Ministry Director-General Moon Ji-sung said the government would swiftly address difficulties companies face and explore support through EDCF and export finance for economically viable projects that benefit both countries.