President of Uzbekistan signed a resolution “On measures to further expand trade, economic, investment and financial cooperation with the Republic of Korea” on 16 May 2016.

According to the resolution, the agreements were reached on selling companies and organizations with the state share in the charter capitals at the Uzbek-Korean Business Forum, which was held in Seoul on 27-29 April 2016.

The resolution said South Korean investors signed memorandums and protocols on realization of the stake of the charter capital of Uzpromstroybank (15% stake for US$63.6 million), Asaka Bank (15% stake for US$58 million) and Aloqabank (47.54% for US$42.7 million).

South Korean investors will also acquire 15% stake of Ravnaq Bank for US$0.5 million, the resolution said.