By Kang Yoon-seung

SEOUL, Aug. 12 (Yonhap) -- Top economic policymakers of South Korea and Uzbekistan have discussed ways to expand bilateral exchanges in trade and supply chains, along with Economic Development Cooperation Fund (EDCF) projects, Seoul's finance ministry said Wednesday.

Deputy Prime Minister Koo Yun-cheol, who doubles as the finance minister, met with his Uzbek counterpart, Jamshid Khodjaev, in Seoul on Tuesday to discuss details of bilateral exchanges ahead of a summit between South Korea and Central Asian nations slated for next month, according to the Ministry of Finance and Economy.

It marked the third meeting between Koo and Khodjaev.

During the meeting, the two officials discussed ways to generate tangible outcomes from bilateral projects while further expanding trade based on mutual trust, the finance ministry said.

The combined trade volume between the two countries came to US$971 million in the first half of 2026, rising 22.4 percent from a year earlier.

"Amid uncertainties in the global environment and the reshuffling of supply chains driven by artificial intelligence (AI) innovation, Uzbekistan stands as an important strategic economic partner for South Korea," Koo said.

Koo added that the two countries need to pursue mutually beneficial projects and focus on their implementation, building on their respective strengths and potential.

The South Korean deputy prime minister further vowed to apply AI solutions to EDCF projects in Uzbekistan to produce tangible and future-oriented results that can be felt by the people of both countries.

South Korea launched the EDCF program in 1987 with the purpose of supporting economic and social infrastructure projects in developing countries.

In response, Khodjaev agreed on the need to expand bilateral economic cooperation in areas including AI data centers and critical minerals, vowing to support joint projects involving South Korean businesses.

The two countries also agreed to speed up major cooperation projects in order to maximize the outcomes of the South Korea-Central Asia summit scheduled for September, the finance ministry added.

colin@yna.co.kr

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