The initiative will not only open a new era of economic and political cooperation between Korea and Central Asia, but also help Korea secure stable energy supplies from the region, Lee said.

The President made the proposal at a business forum in Tashkent, the Uzbekistan capital, where he arrived Sunday on a three-day state visit.

In his summit with Uzbekistan President Islam Karimov earlier in the day, the two countries signed 16 memoranda of understanding ensuring the rights of Korean firms to develop oil and mineral resources and industrial infrastructure in Uzbekistan.

The accords will pave the way for Korea to help develop the Surgil gas reserves and other energy resources as well as modernize Navoiy Airport, South Korean officials said.

“We hope the accords will help promote the strategic partnership between South Korea and Uzbekistan, which was signed in March 2006,” said a joint statement issued after the summit.

President Lee pledged to back Uzbekistan’s plan to join the World Trade Organization and other international bodies, saying Korea will strengthen cooperation with the Central Asian nation on global issues, including the economic crisis.

At the business forum, Lee said the New Silk Road plan will be an economic boost for Uzbekistan, Korea’s largest Central Asian trade partner.

“We are ready to provide the world’s top information technologies, including one for building a WiBro wireless Internet platform, to realize the dream. The project will help upgrade bilateral relations in the areas of logistics, aerospace, railway, energy, construction and IT,” Lee said.

Participants of the forum included more than 100 Korean corporate executives accompanying Lee and 60 Uzbekistan business leaders.

On Tuesday, President Lee will tour Samarkand, a central city on the Silk Road, along with President Karimov, before moving to Astana, the capital of Kazakhstan, for a three-day visit.

In Tashkent, Monday, Lee also held discussions with Uzbek young people, paid a visit to the Monument of Independence and attend a dinner hosted by the Uzbek President.

Upon arrival in Astana, he will give a speech on Korea-Kazakhstan economic cooperation. On Wednesday, he plans to hold a summit with his Kazakh counterpart, President Nursultan Nazarbayev.

Economic issues will top the agenda, including Korea’s participation in the joint exploration of the Jambil maritime oil block in the Caspian Sea as well as a joint venture for construction of a coal-fired power plant in Balkhash, according to South Korean officials.