Hansae Mobility increases commitment in Uzbekistan

Hansae Yes24 Group, a leading South Korean conglomerate, is intensifying its commitment to Uzbekistan, according to recent reports. The conglomerate recently attended a Korea-Uzbekistan business forum in Seoul to discuss expanding investment and localizing operations in the Central Asian nation. The event, co-hosted by Uzbekistan President Shavkat Mirziyoyev and Korean Prime Minister Han Seong-sook, brought together government officials and business leaders from both countries to discuss Uzbekistan's investment climate and strategies for enhancing economic cooperation.

Among the prominent attendees were Hansae Yes24 Group executives, including Vice Chairman Kim Suk-hwan, Vice Chairman Kim Ik-whan, and Hansae Mobility CEO Sung Nag-gon. Hansae Mobility, a key growth engine for the conglomerate, has been actively working with Uzbekistan's automaker UzAuto Motors since its inception. The Korean company began localizing the production of essential automotive components in Uzbekistan last year and commenced full-scale mass production operations this month.

In a strategic move to bolster their presence in the Uzbek market, Hansae Mobility has announced plans to invest a total of $25 million in the country. The conglomerate has already invested $13 million in the first phase of its investment this year and intends to add an additional $1 million in the upcoming stages. The focus of these investments is on Fergana Province, a key region in Uzbekistan known for its automotive industry.