Hansae Mobility increases commitment in Uzbekistan

Hansae Mobility, a subsidiary of the Hansae Yes24 Group, has announced a significant increase in its commitment to Uzbekistan. This move comes after the conglomerate attended a Korea-Uzbekistan business forum in Seoul, aimed at expanding investment and localizing operations in the Uzbek market.

At the forum, attended by Hansae Mobility's CEO Sung Nag-gon, Vice Chairman Kim Suk-hwan, and Kim Ik-whan, representatives from the two countries discussed Uzbekistan's investment environment and strategies to enhance economic cooperation. The forum was jointly hosted by Uzbekistan's President Shavkat Mirziyoyev and Korean Prime Minister Han Seong-sook.

Hansae Mobility, identified as one of the group's future growth engines, has been collaborating with Uzbekistan's automaker UzAuto Motors since the company's inception. The Korean firm began localizing the production of key automotive components in Uzbekistan last year and started full-scale mass production this month.

Hansae Mobility has committed to investing a total of $25 million in Fergana Province, a region in Uzbekistan. The company has already invested $13 million in the first phase of this initiative this year, with plans to add another $1 million.