The memorandum was signed on the results of the Uzbek-Korean Business Forum, which was held on 11 May 2009 within the state visit of the South Korean President Lee Myung-Bak.

The document envisages exchange of experience on project “Feasibility study on e-Procurement project among Finance Ministry of Uzbekistan, Chamber of Commerce and Industry of Uzbekistan and Korea IT Industry Promotion Agency, as well as stimulation of trilateral cooperation in e-Government and exchange of know-how in IT, etc”.

The agreement was inked by Deputy Finance Minister Bahrom Ashrafhonov, chairman of the Chamber of Commerce and Industry of Uzbekistan Alisher Shaykhov and KIPA Vice President Seok Ku-Ji.