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Uzbekistan 11/05/2009 Korea, Uzbekistan to bolster ties
Uzbek President Islam Karimov and South Korean President Lee Myung-bak
Tashkent, Uzbekistan (UzDaily.com) -- South Korean President Lee Myung-bak and his Uzbek counterpart Islam Karimov discussed ways to enhance bilateral energy ties and economic cooperation during their talks in Tashkent on Monday.

The Korean president arrived in the Uzbek capital Sunday on a three-day state visit.

The two presidents vowed to strengthen bilateral cooperation between the governments, legislatures and nongovernmental organizations.

Seoul especially hopes to win increased support for its energy security, according to Korean officials accompanying the president.

Lee is to head to Kazakhstan today, following a brief trip with the Uzbek president to the ancient city of Samarkand.

Lee is scheduled to hold a summit meeting with Kazakh President Nursultan Nazarbayev in Astana on Wednesday.

The visit from May 10-14 is part of Seoul’s efforts to strengthen its presence in Central Asia, where world powers are vying for its huge energy resources, pipelines, strategic positions and transit corridors connecting Asia and Europe.

"Cooperation between Uzbekistan and Korea is becoming a very important relationship," Karimov was quoted as saying Sunday as he greeted Lee at the airport.

"I believe this (summit) will be a very important opportunity for the development of the relationship between the two countries, as well as the development of Uzbekistan," Lee was quoted as telling Karimov.

"President Lee will further reinforce energy and resource diplomacy with Uzbekistan and Kazakhstan," Cheong Wa Dae said earlier in a statement.

"The president will also seek to strengthen cooperation with Central Asia on global issues, such as climate change and the economic crisis."

Lee and Karimov focused their discussion on joint projects to develop a new gas field and modernize an airport in Uzbekistan.

A Korean consortium led by Korea Gas Corp. signed an agreement with Uzbekneftegaz National Holding Co. last year to explore the Surgil gas field near the Aral Sea. The reserve is estimated to hold 96 million tons of liquefied natural gas.

Korea is also participating in Uzbek projects to upgrade Navoiy Airport into a regional logistics hub and build industrial infrastructure in its surrounding area.

Two-way trade between Uzbekistan and Korea reached US$1.38 billion last year with Seoul’s exports and imports standing at US$1.12 billion and US$260 million, according to the Foreign Ministry.

Korea is Uzbekistan’s largest Asian investor at US$1.19 billion.

In Kazakhstan, Lee and Nazarbayev will discuss infrastructure and energy projects in the Eurasian powerhouse.

A consortium led by Korea Electric Power Corp. was selected in March as the prime bidder for building a US$2.5 billion thermal power plant in Balkhash, eastern Kazakhstan.

Construction is scheduled for completion by 2014 for a capacity of between 1,200 and 1,500 megawatts, KEPCO said.

Korea National Oil Corp. signed an agreement last year with the state-run KazMunaiGaz to jointly explore the Zambil Mine in the northwestern Caspian Sea. This oil field has reserves estimated at 1 billion barrels.

Two-way trade was US$700 million in 2008, with Korea’s exports and imports standing at US$348 million and US$350 million. Korea has invested US$2.2 billion in Kazakhstan.

Korea is the second-largest LNG and the fourth-largest oil importer in the world.

During the five-day visit, Lee will meet ethnic Koreans and business leaders in both countries. About 300,000 people of Korean descent live in the two countries.

Cheong Wa Dae said the upcoming trip will help propel Lee’s "New Asia Initiative" to drastically enhance ties with countries across the region.

Lee unveiled the doctrine during his visit to Jakarta in early March, declaring that Seoul will play a leading role in representing Asia’s interests. This included clinching free trade agreements with all Asian countries and establishing a green growth belt in the Asia-Pacific region.

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